14 hours ago
OCTA Secures US$20 Million to Expand SME Financing in Saudi
OCTA, a fintech platform based in the UAE, has secured a US$20 million credit facility from the Sukna Fund for Direct Financing (SFDF).
The funding will support OCTA's goal to offer short-term working capital financing directly through its platform, enabling SMEs in Saudi Arabia to access credit more easily.
Unlike traditional lending models that require separate applications and banking integrations, OCTA enables financing from within a business's invoicing and payment systems.
This allows companies to access funds as soon as invoices are issued or payables are due, helping to avoid the common 60 to 90 day cash flow delays.
'Most SMEs don't fail because they lack revenue, they fail because their cash is locked up,'
said Jon Santillan, Co-Founder and Chief Executive Officer 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 facility is delivered through OCTA's proprietary platform, which integrates with a company's existing financial systems.
Repayments are automated and linked to real-time collections or scheduled payouts, aligning funding with actual cash flow and reducing the operational burden on SMEs.
Since launching in 2024, OCTA has positioned itself as a contract to cash platform, managing invoicing, payments, collections, and now embedded credit.
The platform is designed to improve SME liquidity, streamline operations, and reduce reliance on traditional financial institutions.
