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RIYADH: Dubai-based fintech AlaanPay has raised $2.5 million in a seed round led by investment firms, 468 Capital, Global Founders Capital, and Presight Capital.
AlaanPay claims to be the Middle East’s first corporate spend management platform that enables multi-currency spend via corporate cards and automated payments.
Founded in 2021 by Parthi Duraisamy and Karun Kurien, the company is now planning to launch its platform and has already secured multiple partners in several countries in the region.
Investments in Egyptian fintech companies grow by 300% in 2021
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