Saudi-based fintech firm Stream has raised US$4 million in a seed funding round designed to accelerate its platform for automated billing and payments across the Middle East and North Africa region.
The round was led by early-stage investment firm Outliers VC, with participation from BYLD Ventures and angel investors including Abdullah Elyas, co-founder of the ride-hailing company Careem.
Founded in 2024 by Chief Executive Officer Ibrahim Aldlaigan, Stream offers end-to-end payment lifecycle tools for businesses, enabling app-free branded invoicing, scheduling of payments (one-time, recurring or instalment), local-rail collections, cash-flow visibility and automated reconciliation.
“The world’s innovation in payments has mostly focused on how people spend. We’re focused on how businesses get paid,” said Aldlaigan. “This round helps us build the tools and infrastructure that make that as easy in MENA as it is anywhere else.”
Stream reports 40% month-on-month growth and says it already processes millions in payments for thousands of customers across dozens of merchants. The company initially served early-childhood education providers and has since expanded into school networks, SaaS vendors and other service verticals.
According to a study by the Saudi Central Bank, total payment transaction value in Saudi Arabia reached approximately US$4.8 trillion in 2023, with around 70% of retail payments now digital, yet only about 7% of consumer transactions are recurring payments. Stream seeks to address this gap in business receivables.
The new funding will be used by Stream to enhance its engineering and compliance teams, build out its payment infrastructure capabilities and scale operations across the region.
The investment marks a significant step in supporting B2B payments innovation in MENA and complements broader digital-economy goals in Saudi Arabia.
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