Stream, the Saudi-born platform for streamlining modern billing and payments for businesses in the MENA region, has raised a $4million seed funding round. The round was led by early-stage investment firm Outliers VC, with participation from BYLD Ventures and prominent angel investors, including Abdullah Elyas, co-founder of Careem.
The new capital will be used to fuel the company’s product development in engineering, compliance, payment capabilities, and user experience. It will also be used to strengthen Stream’s internal systems to support its rapidly growing subscriber base.
Tackling the recurring payments gap in MENA
Founded in 2024 by Ibrahim Aldlaigan, a former investor, Stream was built to redefine how businesses in the MENA region bill and collect payments from their customers. The platform manages and automates the entire payment lifecycle, from issuing branded, app-free invoices to scheduling payments with flexible options, collection through local rails, reconciliation, and record keeping.
The company is tackling a significant friction point in the region’s digital economy. According to the Saudi Central Bank, while 70 per cent of retail transactions in Saudi Arabia are now digital, only around 7 per cent of consumer transactions are for recurring payments. The vast majority of recurring payments for services like tuition fees, rent, and subscriptions are still handled through manual or semi-manual processes, forcing many businesses to collect full payments upfront.
“Most of the world’s innovation in payments has focused on how people spend. We’re focused on how businesses get paid,” said Ibrahim Aldlagan, founder and chief executive officer of Stream. “This round helps us build the tools and infrastructure that make that as easy in MENA as it is anywhere else.”
He continued: “Most businesses in Saudi Arabia and the region still collect everything upfront because they lack the systems to bill over time. Stream gives them structure and control; a business defines how and when payments happen – one-time, recurring or in parts – and we handle the rest. It’s about making payments predictable, flexible, and connected to the real flow of services.”
Strong growth and investor confidence
Stream initially built its foundation by specialising in the early childhood education sector and has since scaled to serve school networks, SaaS companies, and other verticals. Since its launch, the company has reported 40 per cent month-on-month growth and is now powering millions in payments for thousands of customers across dozens of merchants.
Investors cited the company’s deep local insight and strong execution as key drivers for their participation in the round.
Sarah AlSaleh, general partner at Outliers VC, stated: “Stream is built on deep local insight and a clear understanding of how businesses actually operate. Ibrahim brings the rare combination of investor perspective and relentless product execution, which is already reflected in how fast the platform is evolving. Stream is laying the foundation for the next generation of payment infrastructure in the region. We’re proud to back him and the Stream team, and partner on the journey to streamline payments.”
Youcef Oudjidane, founder of BYLD, added: “In a short period of time, Ibrahim has built a culture of intensity and technical excellence that attracts top talent and drives the company’s mission to streamline payments and remove friction across MENA. It wouldn’t surprise me if we’re talking about the ‘Stream mafia’ in the years to come”.
