Latham Advises on Alaan’s US$48 Million Series A

Latham & Watkins has advised Peak XV Partners on the US$48 million Series A financing round of Alaan, the Middle East’s leading spend management platform for businesses. The funds will be used to accelerate Alaan’s expansion in Saudi Arabia and power the next phase of its growth, focused on AI-driven finance automation. 

The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA) with significant participation from the founders of 885 Capital, Sudeep Ramnani & Jai Mahtani, Y Combinator, 468 Capital, and Pioneer Fund. The round was heavily oversubscribed and includes both primary and secondary funding.

The Latham team was led by Dubai partners Eyad Latif and Omar Maayeh, with Dubai associate Stephanie Dang and Riyadh associate Khaled Alhuneidi.