Spend Management Platform Alaan Raises $48 Million to Launch Employee

Dubai-based spend-management platform ALAAN announced that it will begin an employee equity buy-back programme, allowing team members to monetise part of their vested stock options at the same valuation used in its recent funding round.

The move comes after ALAAN’s $48 million Series A funding, led by Peak XV Partners (formerly Sequoia India & Southeast Asia), further supported by 885 Capital and Y Combinator, among others.

By offering liquidity at the Series A valuation with no discount, ALAAN positions the scheme as one of the region’s earliest examples of a startup buy-back at this stage of growth. Co-Founder and CEO Parthi Duraisamy underscored the move as part of the company’s commitment to genuine ownership for employees.

Since launching in 2022, ALAAN has onboarded more than 2,000 customers across the MENA region and expanded into Saudi Arabia, processing billions of dirhams in annualised card spend.