Funding RoundsFinTech

Okta Closes $2.25 Million Investment Round

Okta, a fintech company, announced the successful closing of its Seed investment round, raising $2.25 million. The round was led by Kuna Financial and Sadou Financial, with participation from leading investment funds such as Sukna Ventures, Plus VC, 500 Global, and prominent angel investors, including executives from major companies like Careem, Amazon, Google, Fresha, AWS, Tabby Payments, Commercial Bank of Dubai, and Sary.

Founded in early 2024 by John Santillan and Nupur Mehta, joined later by Andrey Korchak, Okta aims to redefine accounts receivable management for small and medium-sized enterprises (SMEs) through a unified platform offering complete automation for the payment collection process.

Innovative Payment Collection Platform

Okta provides a comprehensive solution that leverages advanced technology to fully automate the payment collection process, from contract signing to funds reaching the company’s account. The platform allows businesses to upload contracts or use ready-made templates to quickly and efficiently create invoices, with Okta tracking the process automatically. It also integrates with various accounting systems and classifies customers according to their payment collection grade (from A to F), helping businesses manage payment follow-ups automatically and offering financing options when needed.

In case of disputes, Okta verifies contract terms to avoid common challenges businesses face during the collection process.

Tangible Results and Strategic Growth

Since its launch, Okta has helped its clients collect over $28 million in accounts receivable. Among its clients are major companies like Careem, Lean Technologies, Ogram, Money Hash, and Gameball, which rely on Okta’s platform to simplify account receivables and speed up the payment cycle.

Future Plans

In the next phase, Okta aims to expand its customer base and enhance the integration of its platform with accounting and accounts management systems, enabling SMEs to achieve more efficient financial management and accelerate the payment collection cycle.

Okta is ready to lead the digital transformation in payment collection for small and medium-sized businesses, simplifying financial processes and driving growth.

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