Plug and Play Backs Saudi Fintech AVA to Advance IoT Payments Revolution

Mohammed Fathy

Last updated 13-04-2026

4 min

AVA secures Plug and Play backing after graduating its Fintech Accelerator Programme.

The startup upgrades machines with “tap-and-go” cashless payments using IoT tools.

Its SoftPOS apps and smart switches modernise vending machines and EV chargers.

The move supports Vision 2030’s push for 70 per cent cashless transactions.

Scaling across retail, energy and mobility will be the real test.

Saudi Arabia’s fintech scene has just had another quiet but meaningful boost. AVA, a Jeddah-based startup focused on IoT-powered payment solutions, has secured an undisclosed investment from Plug and Play Middle East after graduating from its Fintech Accelerator Programme. For a young company operating in the nuts-and-bolts world of digital payments, that kind of backing can make all the difference.

Founded in 2019 as A Virtual Advantage, AVA has been building what it describes as a bridge between physical machines and digital transactions. In simple terms, it helps everyday devices, from vending machines to electric vehicle chargers, accept cashless payments without the usual bulky hardware. Its toolkit includes SoftPOS applications (software that turns a smartphone or tablet into a payment terminal), QR-based gateways, and smart switches that can be fitted into electricity-powered machines so they take contactless payments.

It may sound technical, but the idea is straightforward. Instead of replacing entire machines, businesses can upgrade them. A coffee vending machine, for example, can become a tap-and-go, app-linked unit with real-time data tracking. For operators in retail, hospitality, mobility and energy, that’s spot on. No one wants to rip and replace infrastructure if they don’t have to, it’s expensive, and frankly a bit of a faff.

Under the leadership of founder and CEO Aisha Alsaggaf, AVA has aligned itself closely with Saudi Arabia’s Vision 2030 ambition to raise cashless transactions to 70 per cent by 2025. The Kingdom has moved quickly on digital payments, and demand for unattended, self-service solutions is rising fast. Think EV charging points in new developments, automated entertainment centres, or car park ticketing machines. These are small touchpoints, but together they form the backbone of a modern cash-free economy.

Plug and Play Middle East, part of the Silicon Valley-born innovation platform, said in its announcement that AVA is helping shape interactions between businesses and consumers in an increasingly digital economy. The organisation highlighted the startup’s work in creating highly secure and integrated cashless experiences for merchants, an area that, let’s be honest, needs to be watertight if mass adoption is to continue.

The investment amount was not disclosed, but the strategic value is clear. Plug and Play has been expanding its footprint across MENA since 2018, connecting regional founders with global corporates and venture capital networks. Backing a local Saudi fintech like AVA signals its ongoing commitment to nurturing homegrown innovation rather than simply importing solutions.

I’ve seen firsthand how founders across the region struggle to bridge the hardware-software gap. Many brilliant ideas stall because integrating payments into physical infrastructure can be painfully complex. That’s why stories like this matter. At Arageek, we’re always chuffed to bits when a startup tackles a very real operational headache instead of chasing hype. Well… I mean, not every fintech needs to promise a revolution. Sometimes it’s about making machines smarter, one switch at a time.

That said, scaling will be the real test. The unattended payments space is competitive, and integrating with multiple sectors, retail, energy, mobility, is no small task. But AVA’s unified dashboard for fleet and payment management gives it a practical edge, especially for operators who want oversight without juggling five different platforms.

On balance, this investment feels timely. Saudi Arabia’s digital infrastructure push is accelerating, and solutions that blend IoT connectivity with financial services are no longer optional, they’re essential. If AVA executes well, it could well become a quiet enabler of the Kingdom’s cashless ambitions. And in this space, being the infrastructure behind the scenes is sometimes the smartest place to be.

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