Why We Invested in OCTA
At Quona, we partner with entrepreneurs who are solving deeply rooted financial challenges with clarity, innovation, and impact. OCTA embodies this ethos. By reimagining how SMEs in the Middle East/North Africa (MENA) region manage and collect accounts receivable, OCTA is tackling one of the most persistent pain points for businesses: getting paid on time.
Transforming SME Finance in MENA
In the UAE and Saudi Arabia, SMEs represent over 60% of private-sector employment and contribute significantly to GDP. Yet, late payments, fragmented and manual time-consuming collections processes, and limited access to financing constrain their growth.
OCTA solves this with an end-to-end accounts receivable platform designed for modern SMEs. By automating collections workflows, integrating with existing accounting tools, and offering financing options, this platform helps businesses reduce Days Sales Outstanding (DSO) by 30% and saves over 20 hours per week on manual tasks. Instead of chasing payments, businesses can unlock cash flow, streamline operations, and focus on scaling.
For SMEs, it’s the difference between surviving and thriving.
Right Market, Right Moment
The MENA region’s rapidly evolving fintech landscape, coupled with ambitious economic initiatives like Saudi Arabia’s Vision 2030, provides fertile ground for a solution like OCTA. By targeting tech-savvy SMEs, OCTA is building a scalable solution that aligns with the region’s digital transformation goals.
Exceptional Founders with Proven Expertise
OCTA is led by Jon Santillan — a seasoned entrepreneur who previously scaled and sold his startup to Careem, where he led the remittance team at Careem Pay — and Nupur Mittal, who brings extensive experience in market expansion and product development, having led key initiatives at Careem Pay and BCG. CTO Andrey Korchak adds deep technical expertise as the former co-founder of Monite, where he built scalable solutions for accounts receivable automation. Together, the team combines complementary skills to address the critical challenges of SME finance in the MENA region.
Aligned with Quona’s Thesis
OCTA’s vision resonates strongly with Quona’s commitment to advancing financial inclusion. By enabling SMEs to operate more efficiently and access critical financial tools, OCTA is not only addressing operational inefficiencies but also unlocking broader economic potential. As Quona’s first Gulf Cooperation Council (GCC) investment, OCTA represents a significant step in Quona’s strategy to support transformative fintech solutions in the region.
Looking Ahead
We’re thrilled to partner with OCTA as they embark on this exciting journey to reshape B2B payments in MENA. With their bold vision and proven ability to execute, we are excited to see OCTA deliver lasting value to SMEs and the broader ecosystem across the region.
Disclaimer: Quona portfolio companies were selected for profiles based on objective, non-performance-based criteria for the purpose of illustrating the types of investments made by Quona funds and their impacts. These profiles are being provided for illustrative purposes only, in order to provide examples of the idea generation, research, and thought process of Quona investment teams. No representation is made as to whether or if the investment ideas represented in these profiles have been or will be profitable. It should not be assumed that Quona will be able to identify similar investment opportunities in the future, or that any such opportunities will be profitable. The above statements include the opinions of the Firm and are for illustrative purposes only. There is no assurance that any trends depicted or objectives described in Quona profiles will continue or become successful.
