Dubai, UAE: Alaan, a UAE-based spend administration fintech firm, has introduced the launch of an industry-first cashback card for companies. The startup beforehand raised $2.5 million in seed funding and constructed a platform to allow companies to spend by trendy company playing cards and automatic invoice funds. Enterprise prospects utilizing Alaan playing cards might be rewarded with as much as 2% of their spend in money again.
Commenting on the discharge, Parthi Duraisamy, CEO and co-founder of Alaan mentioned: “It is nice to have launched an industry-first cashback card for enterprise. Shoppers have lengthy had entry to such playing cards within the UAE, however SMEs and corporates haven’t. When firms around the globe try to avoid wasting money and minimize bills throughout a recession, we’re completely satisfied to assist UAE firms to avoid wasting and take management of their enterprise bills.”
Based in 2021 by former McKinsey staff Parthi Duraisamy and Karun Kurien, Alaan goals to rework enterprise expense processing by its platform that gives staff with enterprise playing cards to make firm purchases and robotically reconciles bills in real-time.
As well as, Alaan immediately points digital playing cards for e-commerce transactions, SaaS subscriptions, vendor funds or in-store purchases. These playing cards may be arrange with each day or month-to-month spending limits and may be blocked by the service provider to be used solely with sure retailers, comparable to fuel stations. The platform eliminates expense stories, the necessity for petty money and automates accounting duties by seamless integration with numerous accounting answer suppliers.
Philip Johnston, co-CEO of Opontia and an early buyer of Alaan famous “Till now, we have needed to depend on debit playing cards, which have excessive change charges and no refund choices. We look ahead to rising with Alaan playing cards, each to economize and to avoid wasting precious time for our finance groups to allow them to give attention to our enterprise as a substitute of manually managing bills on the finish of the month.”
Alaan is predicated in Dubai and is increasing its headcount and scale to extra markets within the Center East.