Abu Dhabi - Sharikat Mubasher: OCTA, a UAE-based startup specializing in managing invoices and cashing down payments for small and medium-sized enterprises (SMEs), secured $2.25 million in a pre-seed round led by Quona and Sadu Capital.
Sukna Ventures, Plus VC, and 500 Global, along with several angel investors participated in the round, the company announced in a press release.
OCTA will use the investment vehicle to transform how businesses manage receivables, expand its team, and build a system that automates payments and speeds up financing
Founded in 2024 by Jon Santillan, Nupur Mitta, and Andrey Korchak, OCTA automates the process of collecting payments, from when a contract is signed until the cash is in the business’ account.
Monica Brand Engel, Co-founder and Managing Partner of Quona Capital, said: “Our investment in OCTA marks our growing interest in a region that has been very intentional about creating an enabling environment for innovative and inclusive fintech.”
Meanwhile, Qusai AlSaif, Partner at Sadu Capital, commented: "By streamlining accounts receivable management for SMEs, OCTA is addressing a critical pain point and unlocking growth potential for regional businesses. We are excited to support their journey alongside our co-lead partner, Quona Capital, and believe OCTA is poised to scale and make a global impact.”
Since its inception, OCTA has facilitated $28 million of receivables with clients including Careem, Lean Technologies, Ogram, Money Hash, and Gameball.
