“We Got Funded!” OCTA Raises US$3.5 Million to Expand AI Tools for Accounting Firms in the US and the Gulf
The funding will support the automation of more financial workflows and the company’s expansion into the United States.
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OCTA, a UAE-based fintech platform, has raised US$3.5 million in seed funding to expand its AI-powered financial software for accounting firms, bringing its total funding to US$5.6 million.
Middle East Venture Partners (MEVP) led the round, with participation from Aramco’s venture capital arm Wa’ed Ventures, Plug and Play, A-typical Ventures, Sukna Ventures, and Sadu Capital.
OCTA plans to use the funding to expand its AI and engineering capabilities, automate additional financial workflows, and support its international growth, with the United States forming a central part of its expansion strategy.
“The accountant is still the protagonist,” said Jon Santillan, co-founder and CEO of OCTA. “They own the client relationship, they understand the context, and ultimately they are accountable for the work. AI changes how much of that work they need to produce manually. If we can give an accounting firm significantly more operating leverage, the firm itself becomes more powerful.”
The company also launched OCTA Flow, a set of AI agents designed to handle recurring accounting tasks, including reconciliations, bookkeeping, and month-end closing.
Accountants review and approve the system’s output before it is shared with clients. More than 520 accounting firms signed up for access to OCTA Flow within six weeks of its launch, according to the company.
“The economics of financial work are being rewritten around AI workflows and agentic systems. Firms that don’t adapt will fall behind on cost and on speed,” Ali Al Almajthoob, Partner at MEVP, said. “With the launch of OCTA Flow, professional financial services firms in particular can compete in this new AI-driven era rather than be squeezed by it. OCTA sits with those firms rather than around them, which is why we believe this team can build a category leader with global reach.”
Founded in 2024, OCTA develops AI-based financial software for accounting firms and the small and medium-sized businesses they serve. Its technology is intended to automate repetitive tasks while leaving accountants responsible for reviewing the work and applying professional judgment.
The company initially focused on accounts receivable and accounts payable, including invoice processing, collections, approvals and payments. OCTA Flow expands its technology to other parts of the monthly accounting cycle.
OCTA said its platform processed 172,000 transactions in August 2026, freeing up more than US$75,000 in billable capacity for accounting firms.
“For years, software was something a firm used to get the work done,” said Nupur Mittal, co-founder and chief operating officer of OCTA. “AI makes it possible for the software to produce the work itself. But in accounting, someone still has to review it, make the judgment call and stand behind the outcome.”
The company started operating in Saudi Arabia and the UAE, and has since expanded into the United States.
OCTA, a UAE-based fintech platform, has raised US$3.5 million in seed funding to expand its AI-powered financial software for accounting firms, bringing its total funding to US$5.6 million.
Middle East Venture Partners (MEVP) led the round, with participation from Aramco’s venture capital arm Wa’ed Ventures, Plug and Play, A-typical Ventures, Sukna Ventures, and Sadu Capital.
OCTA plans to use the funding to expand its AI and engineering capabilities, automate additional financial workflows, and support its international growth, with the United States forming a central part of its expansion strategy.
Entrepreneur Middle East Staff
Entrepreneur Staff
