AI-powered fintech Alaan raises $48M, one of the largest Series A rounds in MENA

When Parthi Duraisamy was a consultant at McKinsey’s Dubai office, he discovered that the American Express cards his company relied on for corporate expenses were rarely accepted in the Middle East. This forced Duraisamy to cover significant travel expenses out of pocket and file endless expense reports.

“It was a constant pain,” Duraisamy explained on the call. “I’d spend my weekends uploading receipts, reconciling every expense manually.”

Now, Alaan, the company he launched with fellow McKinsey alumnus Karun Kurien, is the…