Oncount raises $1.5M to launch AI-powered accounting platform for SMBs in the UAE

(MENAFN- PR HUB) Dubai, the UAE – September 17, 2025]: Oncount, a Dubai-based accounting technology startup, has secured $1.5M in seed funding. The investment, led by seasoned tech entrepreneur Sergey Panov, will accelerate the development and launch of Oncount's proprietary AI-driven accounting platform, designed to transform how SMBs manage their finances across the UAE and broader region, execution of go-to-market strategies, and onboarding initial clients seeking cost-effective accounting solutions.

SMBs form the backbone of the UAE and MENA economies, representing 90% of all businesses and contributing up to 50% of national GDP. In Dubai alone, SMEs account for 42% of the workforce and contribute approximately 40% of the city's economic value. Businesses now face significant cost pressures, including a new 9% corporate tax on profits exceeding AED 375,000, a 15% increase in accountant salaries (now averaging AED 130,400 annually for mid-level professionals), and potential penalties of up to AED 50,000 for tax non-compliance. These challenges are precisely what Oncount aims to address with its AI-powered accounting platform, offering an accurate and efficient solution for businesses.

In response to the mounting financial pressures on SMBs, driven by new tax regulations and rising accountant salaries, Oncount is here to provide a much-needed relief. The platform aims to streamline accounting processes for Middle Eastern businesses facing increasing compliance costs. The founding team combines decades of expertise in IT, SaaS, and digital accounting. Sergey Panov, former CEO of Action, leads the team alongside Nicol Kuznetsova, a serial B2B entrepreneur, and Ivan Anohin, previously a product leader at OSOME, a global accounting startup based in Singapore and the UK. Their collective experience spans product development, automation, and business scaling.

The platform distinguishes itself by utilising artificial intelligence and automation to streamline bookkeeping and tax workflows, thereby reducing costs while enhancing accuracy and efficiency. Unique features include AI-powered document processing for invoices, receipts, and contracts; automated bank transaction reconciliation; client-specific task management with personalised tax calendars; and accountant-managed quality control. These features set Oncount apart from other accounting solutions, offering an accurate and efficient business solution.

“Oncount's platform is designed with a special focus on data integrity and operational speed, allowing the company to offer premium features that make SMBs feel valued. These include voice-activated document creation with accountant verification, same-day transaction processing, guaranteed 20-minute response time for accounting questions, and professional liability insurance included in all service plans," explained Sergey Panov, founder and CEO of Oncount.

Oncount's subscription model offers plans ranging from 508 AED to 4,212 AED monthly, scaled to business size and complexity. Each subscription includes tax registration and filing (CT and VAT), full-service accounting, a dedicated team (senior accountant, bookkeeper, assistant accountant, and tax lawyer), comprehensive compliance support and financial reporting. The tiered pricing structure ensures that businesses of all sizes and needs can benefit from Oncount's services, making it an attractive option for SMBs.

After its UAE launch, Oncount is set to embark on an exciting journey of expansion throughout the MENA region and Central Asia. The company will focus on markets with underserved SMB segments and increasing regulatory complexity. The company is exploring opportunities in Saudi Arabia, Egypt, Kazakhstan, and Uzbekistan.

"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.

Oncount’s launch coincides with the rapid transformation of the accounting sector in the UAE and beyond, driven by digitalisation, automation, and AI, which enables businesses to adapt to new regulatory and operational realities.

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