Saudi fintech AVA targets cashless growth with Plug and Play backing

• Saudi Arabia-based fintech AVA has secured an undisclosed strategic investment from Plug and Play Middle East, following its graduation from the fintech accelerator programme.
• Founded in 2019 by Aisha Alsaggaf, AVA develops IoT-enabled payment solutions, including SoftPOS, QR payments, and smart switches for unattended transactions.
• The investment will support product development and regional expansion, aligning with Saudi Arabia’s push toward a 70% cashless economy under Vision 2030.

Press release:

Saudi fintech startup AVA has secured an undisclosed strategic investment from Plug and Play Middle East, following its successful participation in the Plug and Play Fintech Accelerator Programme.

Founded in 2019, AVA specialises in IoT-enabled payment infrastructure designed to digitise unattended retail and mobility sectors. Its platform integrates SoftPOS applications, QR-based payment gateways, and smart IoT switches, enabling physical devices to accept seamless, contactless payments.

The company’s technology bridges the gap between hardware and digital financial services, allowing businesses to automate transactions and access real-time data insights without relying on traditional payment terminals.

AVA has positioned itself as a key enabler of self-service payment ecosystems across sectors including retail, hospitality, EV charging, and automated services, supporting the growing demand for frictionless, cashless transactions.

The new investment will support product development and regional expansion, as AVA scales its operations in line with Saudi Arabia’s Vision 2030 objectives to increase the adoption of digital payments.

The deal also highlights Plug and Play’s continued commitment to supporting fintech innovation in the Kingdom and connecting local startups with global capital and expertise.