Latest news with #OCTA
Fintech News ME
a day ago
- Business
- Fintech News ME
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.
Wamda
3 days ago
- Business
- Wamda
Sukna Fund provides $20 million credit facility to OCTA
UAE-based fintech Octa has raised $20 million in a credit facility from Sukna Fund for Direct Financing (SFDF). Co-founded by Jon Santillan, Andrey Korchak, and Nupur Mittal in 2024, OCTA automates financial operations for SMEs — covering invoicing, payments, collections, and now embedded credit. The new funding will accelerate OCTA's mission to become a foundational layer for contract-to-cash automation in Saudi Arabia and the wider region. In October 2024, OCTA closed a $2.25 million pre-Seed round, co-led by Quona Capital and Sadu Capital, with participation from Sukna Ventures, Plus VC, 500 Global, and other angel investors. Press release: OCTA, a UAE-based fintech platform streamlining financial operations for SMEs, has announced the closing of a $20 million credit facility from the Sukna Fund for Direct Financing (SFDF). The funding will enable OCTA to embed short-term working capital financing directly into its platform, offering seamless credit access to small and medium-sized enterprises across the Kingdom. Unlike traditional lending processes that require separate applications and banking integrations, OCTA automates financing from within businesses' existing invoicing and payments workflows. The platform empowers companies to access funds the moment invoices are issued or payables come due, eliminating the typical 60-to-90-day cash flow gap that hampers growth. 'Most SMEs don't fail because they lack revenue — they fail because their cash is locked up,' said Jon Santillan, Co-Founder and CEO 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 is delivered through OCTA's proprietary platform, integrating smoothly with a company's financial operations stack. Repayments are automated and tied to real-time collections or scheduled payouts, aligning funding with actual cash flow and reducing the operational burden on SMEs. 'We've built the financial operations layer that automates how money moves,' said Nupur Mittal, Co-Founder of OCTA. 'With this facility, we're now also automating how it gets funded.' Sukhdev Hansra, Head of Asset Management at Sukna Capital, added: 'OCTA gives us an embedded distribution layer where capital can move instantly, transparently, and in sync with the operations of real businesses.'
Filipino Times
09-06-2025
- Politics
- Filipino Times
78% of Filipinos support impeachment trial for VP Sara Duterte — OCTA survey
A majority of Filipinos support subjecting Vice President Sara Duterte to an impeachment trial, according to a new national survey conducted by OCTA Research. The survey, conducted from April 20 to 24, revealed that 78% of respondents favor the conduct of a Senate impeachment trial for Duterte, while 13% oppose it and 9% remain undecided or expressed no opinion. Regional and Demographic Breakdown Support for the impeachment trial was strongest in the Visayas (87%), followed by the National Capital Region (83%), Mindanao (77%), and Balance Luzon (73%). Notably, unanimous support was recorded in the Cordillera Administrative Region (100%), while high levels of support were also observed in Western Visayas (95%) and the Davao Region (95%). Disagreement was relatively low across most regions, though notable dissent was seen in Zamboanga Peninsula (34%), CARAGA (25%), Central Mindanao (25%), CALABARZON (21%), and BARMM (20%). Support remained consistently high across all socio-economic classes, with the strongest backing from adults aged 25–34 (84%) and 65–74 (82%). OCTA also noted that 91% of Filipinos are aware of the impeachment case filed against Vice President Duterte. Background and Legal Developments The impeachment complaint, signed by 215 members of the House of Representatives in February, accuses Duterte of graft and corruption, betrayal of public trust, culpable violation of the Constitution, and other high crimes. While the House transmitted the articles of impeachment to the Senate the same day, the upper chamber deferred its deliberation, with Senate President Chiz Escudero saying the reading of the complaint was postponed to June 11, ahead of Congress' sine die adjournment on June 13. Vice President Duterte has publicly welcomed the opportunity to address the allegations, stating she is 'thankful for the chance to clear her name.' However, she has also filed a petition before the Supreme Court, seeking to block the impeachment trial on constitutional grounds. A separate Social Weather Stations–Stratbase poll released on May 29 found that 88% of Filipinos believe Duterte should directly respond to the charges and clarify issues of corruption.
GMA Network
09-06-2025
- Politics
- GMA Network
78% of Pinoys want VP Sara Duterte to face impeachment trial —OCTA survey
Majority of Filipinos believe Vice President Sara Duterte should face a Senate trial or impeachment court, according to survey results released Monday. Based on OCTA Research's Tugon ng Masa (TNM) survey, 78% of Pinoys want Duterte to face a Senate trial or impeachment court to respond to the charges and formally clear her name. Only 13% disagreed while 9% said they did not know the answer or have no answer. 'These findings reflect strong public support for accountability and due process in addressing the allegations against the Vice President,' OCTA said. The non-commissioned survey was conducted from April 20 to 24 through face-to-face interviews with 1,200 male and female respondents aged 18 and above. According to OCTA, the survey has a margin of error of ±3 % at a 95% confidence level. "Subnational estimates for the geographic areas covered in the survey have the following margins of error at a 95% confidence level: ±6% for Metro Manila, Balance Luzon, Visayas, and Mindanao," OCTA said. The House impeached Duterte on February 5, with over 200 lawmakers endorsing the complaint. On the same day, the Articles of Impeachment were transmitted to the Senate but the upper chamber adjourned without addressing the case. On February 25, Senate President Francis 'Chiz' Escudero said the processes related to Duterte's impeachment trial would start on June 2. However, Escudero on May 29 said the presentation of the Articles of Impeachment before the Senate was moved to June 11 to prioritize the passage of the items in the administration's legislative agenda before the end of 19th Congress. Senator Ronald "Bato" dela Rosa recently said that he and other senators are working on their drafts of a Senate resolution seeking to dismiss the impeachment case against Duterte. Duterte was accused of betrayal of public trust, culpable violation of the Constitution, graft and corruption, and other high crimes. The Vice President has denied the allegations. —KG, GMA Integrated News
Yahoo
06-06-2025
- Business
- Yahoo
Passenger rail service set to resume through site of San Clemente landslides
Passenger rail service through San Clemente will resume Saturday morning, nearly six weeks after it was halted due to threats from landslides and coastal erosion. The Orange County Transportation Authority announced that Metrolink and Amtrak Pacific Surfliner trains will once again operate through southern Orange County beginning Saturday. Emergency construction began April 28 to stabilize the track near Mariposa Point. Since then, crews have placed approximately 5,900 tons of boulders, known as riprap, along the bluffs in high-risk areas to shield the track from additional damage. The effort also included the resurfacing of more than 3,600 feet of track and the installation of 400 feet of concrete barriers on the inland side of the rail corridor. While that work is now wrapping up, OCTA says more is still planned. The agency received approval last month to construct a 1,400-foot-long wall behind those barriers, which will be built over the coming months to help prevent future landslide debris from reaching the tracks. Construction of the wall is not expected to disrupt passenger service. The full emergency effort included the addition of sand to beaches between North Beach and Mariposa Point. In total, about 240,000 cubic yards of sand are expected to be placed in the area as part of the reinforcement project. The San Clemente rail corridor serves as the only coastal rail connection between Orange and San Diego counties. Since 2021, repeated bluff failures have forced several closures. OCTA and its partners say this phase of the project marks significant progress toward stabilizing the corridor while allowing future service to continue uninterrupted. Pedestrians are urged to stay off the tracks and cross only at marked crossings. Trains will resume running at full schedules beginning Saturday morning. Riders are advised to check updated schedules at and Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
