Emirati Startup Oncount Secures $1.5M Seed to Transform SME Accounting with AI

Malaz Madani

Last updated 17-09-2025

3 min

Oncount, an Emirati startup, raised $1,5 million to launch its AI-powered accounting platform.

The platform offers automated bookkeeping, tax services, transaction settlements, and access to finance experts.

With 90% of UAE businesses being SMEs, the timing capitalises on new corporate tax challenges.

Oncount aims to expand into Saudi Arabia and other regions facing regulatory challenges for SMEs.

Fintech tools like Oncount's make sophisticated finance solutions accessible to small businesses.

The Emirati startup Oncount has just wrapped up a $1.5 million seed funding round, with backing led by tech entrepreneur Sergey Panov. Not bad going for a company that’s barely out of the blocks. The fresh capital will be used to roll out its AI-powered accounting platform, designed especially with small and medium-sized businesses in mind.

From what’s been outlined, the system isn’t just a glorified spreadsheet. It promises fully automated bookkeeping, tax preparation and reporting, same-day transaction settlements, and built-in risk insurance. There’s also automatic bank reconciliation and AI-driven document processing – the kind of faff that eats up hours for most business owners. Subscription even comes with access to a team of tax and accounting experts, which might be spot on for founders who can’t afford in-house finance staff.

The timing feels strategic. SMEs account for about 90% of businesses in the UAE, contributing around half of the country’s GDP. But the new 9% corporate tax, rising accountant salaries, and the looming threat of penalties for non-compliance are giving a fair share of company founders sleepless nights. I reckon a tool that helps cut costs while giving them peace of mind could land well in this climate.

Once Oncount establishes a firm footing locally, the startup plans to expand into Saudi Arabia, Egypt, Kazakhstan and Uzbekistan – regions where regulatory gaps and compliance hurdles remain a real challenge for SMEs. That said, scaling a product that mixes tech with sensitive financial data isn’t always a walk in the park. It takes trust, and trust takes time.

At Arageek we’ve often seen how one good idea can snowball when the market need is glaring. I remember chatting with a small café owner in Dubai not long ago, and she admitted her biggest headache wasn’t sourcing beans or brewing coffee – it was sorting out her accounts every month. If Oncount can shave hours off tasks like those, then many entrepreneurs, from cafés to consultancy firms, might be chuffed to bits.

The move highlights a broader trend: fintech tools are no longer just for multinationals or big corporates. They’re trickling down, becoming almost a necessity for everyday SMEs. And believe it or not, that democratisation of tech could help level the playing field in markets where small businesses usually feel squeezed.

Of course, execution is everything. Slick features on paper don’t always translate into user adoption. But this raise signals investor confidence, and for a young Emirati venture, that’s a pretty solid vote of trust. For SMEs worried about taxes, compliance and the cost of accountants, a smart solution like this might be exactly what the doctor ordred.

🚀 Got exciting news to share?

If you're a startup founder, VC, or PR agency with big updates—funding rounds, product launches 📢, or company milestones 🎉 — AraGeek English wants to hear from you!