Abu Dhabi-based fintech startup Octa closed a USD 2.25 mn in pre-seed funding round co-led by US-based Quona Capital and Saudi-based Sadu Capital, according to a press release (pdf). Sukna Ventures, Plus VC, 500 Global, and angel investors — including Pawel Iwanow, chief payment Officer at Fresha, and Dom Monhardt, director of product design at Tap Payments — also participated in the round.

About Octa: Founded in early 2024 by Jon Santillan (LinkedIn), Nupur Mittal (LinkedIn), and Andrey Korchak, Octa automates the payment collection process for small and medium-sized enterprises (SMEs) and provides access to financing tools for debt recovery. The platform has recently expanded into the Saudi market and has facilitated USD 28 mn in receivables for clients, including Careem and Lean Technologies.

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