Riyadh, Saudi Arabia – Stream, a Saudi-born platform revolutionizing modern billing and payments for businesses across MENA, has announced raising $4 million in seed funding to accelerate its mission of removing friction from getting paid. The round was led by Outliers VC, joined by BYLD Ventures and notable angel investors including Abdullah Elyas, Co-founder of Careem.
With this new funding, Stream aims to enhance its product engineering, compliance, payment capabilities, and user experience, while reinforcing its internal systems to support a rapidly expanding customer base.
Founded in 2024 by Ibrahim Aldlaigan, Stream is redefining how companies across various industries in the MENA region bill and collect payments. The platform automates the entire payment lifecycle, from issuing branded, app-free invoices to managing flexible payment scheduling, collections, reconciliation, and record-keeping.
Ibrahim Aldlaigan, Founder & CEO of Stream, said:
“Most of the world’s innovation in payments has focused on how people spend. We’re focused on how businesses get paid. This round helps us build the tools and infrastructure that make that as easy in MENA as it is anywhere else.”
He added:
“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 — they define how and when payments happen, and we handle the rest.”
According to the Saudi Central Bank’s 2023 Payments Usage Study, total payment transactions in Saudi Arabia reached USD 4.8 trillion, with around 70% of retail transactions now digital. Yet, only 7% of consumer transactions are recurring payments — a gap Stream aims to close by powering seamless recurring billing for sectors such as education, SaaS, and beyond.
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’s investor perspective and product-driven mindset make Stream a category-defining company.”
Youcef Oudjidane, Founder of BYLD Ventures, added:
“Ibrahim has built a culture of intensity and technical excellence that attracts top talent. It wouldn’t surprise me if we’re talking about the ‘Stream Mafia’ in the years to come.”
Since launch, Stream has grown 40% month-on-month, powering millions in transactions for thousands of customers — a clear testament to the platform’s strong market fit and product excellence.
