Octa Secures $20 Million to Provide Working Capital to Saudi SMEs

Dubai-based fintech Octa has secured a $20 million credit facility from Saudi Arabia’s Sukna Fund for Direct Financing. The funding will allow Octa to embed credit directly within its accounts receivable workflows, enabling Saudi SMEs to access working capital at the moment invoices are issued or payables become due.

Through this embedded finance model, businesses can bypass traditional loan application processes, with repayments automatically linked to real-time cash collections or scheduled payment flows. Octa’s offering aims to bring speed and transparency to SME financing by synchronising funding with day-to-day business operations.

Octa was launched in 2024 to digitise and automate key financial functions such as invoice collection, contract management, and debt recovery. The new facility expands its capabilities by integrating working capital financing into the same digital infrastructure. This milestone follows Octa’s earlier seed rounds totalling $2.2 million, with participation from Quona Capital, 500 Global, and Sadu Capital.