• Dubai’s Oncount secures USD 1.5M seed round to launch AI-powered accounting platform targeting SMBs in the UAE and wider MENA region.
• The startup is tackling rising costs, compliance risks, and new tax rules while offering automated workflows, tax filing, and financial reporting.
• Oncount plans regional expansion into Saudi Arabia, Egypt, and Central Asia, aiming to capture underserved SMB markets facing complex regulations.
  

Oncount

UAE-based accounting technology startup Oncount has raised USD 1.5 million in a seed funding round. The investment was led by tech entrepreneur Sergey Panov.

Up next with the funding, it will fuel the development and launch of the company’s AI-powered accounting platform. It will also support go-to-market plans and onboarding of initial SMB clients in the UAE.

This comes at a time when SMBs represent 90% of businesses in the UAE and contribute about half of national GDP. In Dubai alone, they account for 42% of jobs and around 40% of economic value. But many now face cost pressures, including a new 9% corporate tax, rising accountant salaries averaging AED 130,400, and penalties for tax non-compliance reaching AED 50,000.

AI-Driven Accounting

Oncount’s platform uses AI and automation to streamline bookkeeping and tax workflows. Features include automated bank reconciliations, AI-powered document processing, personalized tax calendars, and same-day transaction processing. Every subscription also includes a dedicated team of accountants and tax experts, plus liability insurance.

 Following its UAE launch, Oncount plans to expand into Saudi Arabia, Egypt, Kazakhstan, and Uzbekistan. The company sees opportunities in markets with growing compliance demands and underserved SMB sectors.

“SMBs across MENA and Central Asia face mounting pressures: more taxes, higher wages, and growing compliance risks. We see a tremendous opportunity to bring our tech-first model to these markets and give business owners the peace of mind to focus on growth,” said Sergey Panov, Founder of Oncount.