Stream
Riyadh-based fintech that builds billing, payment collection and subscription software for businesses in Saudi Arabia and MENA. It has raised USD 9.2 million in seed funding.
Industry: Billing and payments infrastructure | Location: Riyadh, Saudi Arabia | Founded: 2024 | Total Funding: USD 9.2M
About Stream
Stream is a Riyadh-based fintech startup building billing and payments infrastructure for businesses operating across the Middle East and North Africa. According to the company, its platform brings billing operations, payment collection, reconciliation and post-payment workflows into one infrastructure layer for enterprises dealing with increasingly complex digital commerce. TechScoop describes the target market as companies that need localized payment systems able to handle subscriptions, recurring billing, embedded finance and multi-market transactions.
Stream was founded in 2024 by Ibrahim Aldlaigan, who serves as founder and CEO. He has said that businesses across MENA are evolving faster than traditional financial systems can support, particularly as payment flows and revenue models become more sophisticated.
The company has raised USD 9.2 million in seed funding across two stages. The first seed round was reported at USD 4 million. Less than six months after closing it, Stream announced a seed extension of USD 5.2 million, which took its total seed funding to USD 9.2 million. The extension was led by BECO Capital, with participation from STV, Flourish Ventures and Arab Bank, together with existing investors Outliers and BYLD. The articles do not name the investors in the first USD 4 million round beyond identifying Outliers and BYLD as existing backers at the time of the extension, and no date is given for either round.
STV, the Riyadh-based venture firm, lists Stream among the companies it has backed through its Emerging Tech and AI Fund, a vehicle of about USD 100 million anchored by Google. TechScoop named Stream alongside Sawt, Clarity and Signit as early deployments from that fund, which marks a move by STV towards earlier-stage investing.
Stream said it will use the new capital to accelerate product development, expand operational capabilities and scale across regional markets as demand rises for modern billing systems among startups and larger enterprises. TechScoop placed the round in the context of growing investor interest in infrastructure-focused fintechs in the Gulf, and of startups that secure follow-on capital quickly after an initial seed. The articles do not disclose customer numbers, revenue, headcount or the markets in which Stream currently operates beyond its Riyadh base.
Leadership
- Ibrahim Aldlaigan, Founder and CEO