Saudi startup Stream raises $4 million to fix payments for MENA businesses

Saudi fintech startup Stream has raised $4 million in seed funding to simplify how businesses across the Middle East and North Africa (MENA) get paid. The round was led by Outliers VC, with participation from BYLD Ventures and angel investors including Abdullah Elyas, the co-founder of Careem.

Founded in 2024 by Ibrahim Aldlaigan, Stream is building payment infrastructure that helps businesses automate how they bill and collect money from customers. The platform allows users to create branded invoices, schedule and manage payments, and reconcile transactions in one place.

Aldlaigan says the company is focusing on the overlooked side of payments. “Most of the world’s innovation in payments has focused on how people spend. We’re focused on how businesses get paid,” he said. “This round helps us build the tools and infrastructure that make that as easy in MENA as it is anywhere else.”

Stream started out serving early childhood education centres but has since expanded into school networks, SaaS platforms, and other sectors. The company claims 40% month-on-month growth, processing millions in payments for thousands of customers.

For Aldlaigan, the problem is simple but costly. “Most businesses in Saudi Arabia and the region still collect everything upfront because they lack the systems to bill over time,” he said. “Stream gives them structure and control. A business defines how and when payments happen, and we handle the rest.”

Despite digital payments now covering nearly 70% of retail transactions in Saudi Arabia, only 7% of consumer payments are recurring, according to the Saudi Central Bank’s 2023 report. That gap is where Stream sees its biggest opportunity.

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Sarah AlSaleh, General Partner at Outliers VC, said Stream’s early traction reflects its local understanding of how businesses operate. “Ibrahim brings the rare combination of investor perspective and relentless product execution. Stream is laying the foundation for the next generation of payment infrastructure in the region,” she said.

Youcef Oudjidane, founder of BYLD Ventures, added that Stream’s fast growth and team culture have made it one to watch. “It wouldn’t surprise me if we’re talking about the ‘Stream mafia’ in the years to come,” he said.

With this funding, Stream plans to strengthen its engineering and compliance teams, enhance its user experience, and expand its presence across additional markets in the MENA region.