In a strategic boost for the Kingdom’s fintech landscape, AVA—a Jeddah-based financial technology pioneer—has secured an undisclosed investment from Plug and Play Middle East. The startup, which specializes in IoT-enabled payment platforms and self-service solutions, received the backing following its successful graduation from the Plug and Play Fintech Accelerator Program, marking a significant milestone in its mission to digitize unattended retail and mobility sectors across Saudi Arabia.
Empowering The Cashless Economy
Founded in 2019, AVA—officially known as A Virtual Advantage—has developed a versatile ecosystem designed to bridge the gap between physical hardware and digital payments. Its core offerings include SoftPOS (Software Point of Sale) applications, QR-based payment gateways, and specialized smart switches that allow any electricity-consuming device to accept contactless payments.
By integrating IoT connectivity with financial services, the company enables businesses in retail, hospitality, and energy to automate transactions and gain real-time data insights without the need for traditional, bulky hardware. This “Plug and Play” approach to installation has made it a preferred partner for self-service industries, including vending machines, EV charging stations, and automated entertainment centers.
A Vision Led By Local Talent
Under the leadership of Founder and CEO Aisha Alsaggaf, AVA has positioned itself at the forefront of Saudi Arabia’s “Vision 2030” goals, which aim to increase the share of cashless transactions to 70% by 2025. The investment from Plug and Play KSA is expected to fuel the company’s product development and scale its reach within the regional market, where the demand for seamless, unattended payment solutions is surging.
“AVA is shaping the way businesses and consumers interact in an increasingly digital economy,” noted Plug and Play Middle East in their announcement, highlighting the startup’s role in creating “unattainable” (highly secure and integrated) cashless experiences for modern merchants.
Deepening The Startup Ecosystem In KSA
The investment underscores Plug and Play’s deepening commitment to the Saudi startup ecosystem. As a global innovation platform with roots in Silicon Valley, Plug and Play has been aggressively expanding its presence in the MENA region since 2018. By funneling capital and mentorship into homegrown talent like AVA, the firm continues to act as a bridge between Saudi entrepreneurs and global venture capital networks.
About AVA
AVA is a Saudi-born fintech company based in Jeddah that provides comprehensive digital payment solutions. The firm specializes in unattended and self-service payment technology, offering products like AVA SoftPOS and IoT-enabled controllers that transform standard appliances into revenue-generating, cashless machines. AVA serves various sectors including retail, hospitality, energy, and mobility, providing businesses with the tools to manage fleet operations and payment processing through a unified digital dashboard.
About Plug and Play Middle East
Plug and Play Middle East is a branch of the world’s largest innovation platform, headquartered in Silicon Valley. Since launching in the region in 2018, it has established a robust network of corporate partners and government entities to accelerate the growth of the MENA tech scene. Through its accelerator programs and in-house venture capital arm, Plug and Play connects early-stage startups with the resources, expertise, and capital needed to scale globally.
Source: Plug and Play Middle East
