Stream Raises $4 Million Seed Round to Transform B2B Payments In MENA

Saudi Arabia-based fintech, Stream, has raised $4 million in seed funding led by Outliers VC, with participation from BYLD Ventures and angel investors including Careem’s co-founder, Abdullah Elyas, to automate billing and collections for businesses across MENA.

Founded in 2024 by Ibrahim Aldlaigan, Stream manages the payment lifecycle end-to-end, from app-free invoicing and flexible scheduling to collection via local rails, cash flow visibility, reconciliation, and record keeping.

“Most of the world’s innovation in payments has focused on how people spend," "We’re focused on how businesses get paid," said Aldlagan, who serves as the CEO. "This round helps us build the tools and infrastructure that make that as easy in MENA as it is anywhere else.

Stream first focused on early childhood education and has since expanded into school networks, SaaS, and other verticals, reporting 40% month-on-month growth and processing millions in payments for thousands of customers across dozens of merchants.

"Most businesses in Saudi Araia and the region still collect everything upfront because they lack the systems to bill over time," Aldlagan added. "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.”

According to the Saudi Central Bank Report on Payments Usage Study 2023, the total value of payment transactions in Saudi Arabia reached approximately $4.8 trillion in 2023, with roughly 70% of retail transactions now happening digitally, yet only around 7% of consumer transactions are reported to be recurring payments. This is the gap Stream targets as it scales its infrastructure and subscriber base.

The company said the new capital will support product development across engineering, compliance, payment capabilities and user experience, alongside strengthening internal systems.