UAE-based fintech startup Octa has secured $20 million in funding from Sukna Fund for Direct Financing (SFDF).
Octa was founded in 2024 by Jon Santillan, Andrey Korchak, and Nupur Mittal. The company helps small and medium-sized businesses (SMEs) handle their finances — including invoicing, payments, collections, and now even credit services — using automation.
This new funding will help Octa grow faster, especially in Saudi Arabia and across the region, as it works to become a key tool for managing the full financial process from contracts to payments.
Back in October 2024, Octa also raised $2.25 million in a pre-seed round. That earlier investment was led by Quona Capital and Sadu Capital, with support from Sukna Ventures, Plus VC, 500 Global, and other angel investors.
OCTA, a fintech company based in the UAE, has secured $20 million in funding from the Sukna Fund for Direct Financing (SFDF). This money will help OCTA offer built-in short-term financing directly through its platform, making it easier for small and medium businesses in Saudi Arabia to access credit when they need it.
Instead of going through long, complicated loan applications or connecting with banks, businesses using OCTA can now get financing automatically through their regular invoicing and payment systems. This means companies can receive money as soon as they send out invoices or when bills are due — helping them avoid the usual 2 to 3-month wait to get paid and keep their businesses running smoothly.
“Most SMEs don’t fail because they lack revenue — they fail because their cash is locked up,” said Jon Santillan, Co-Founder and CEO of OCTA. “Our partnership with Sukna Fund allows us to bring financing directly into the heart of daily operations, where businesses need it most.”
The credit is offered through OCTA’s platform, which works smoothly with a company’s existing financial tools and systems.
Repayments are done automatically and are linked to the money the business receives or plans to pay out. This means funding matches real cash flow, making things easier and less stressful for small and medium businesses.
“We’ve built the financial operations layer that automates how money moves,” said Nupur Mittal, Co-Founder of OCTA. “With this facility, we’re now also automating how it gets funded.”
Sukhdev Hansra, Head of Asset Management at Sukna Capital, said:
“OCTA gives us a smart way to deliver funding quickly and clearly, directly into the daily operations of real businesses.”
Since starting in 2024, OCTA has become a complete platform that helps businesses handle everything from invoicing and payments to collections and credit. It’s built to help small and medium businesses have more cash on hand, run more efficiently, and depend less on banks and traditional lenders.
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