Riyadh-based payments and billing platform Stream has announced a $5.2 million seed extension, bringing its total seed funding to $9.2 million less than six months after its initial round. The new funding was led by BECO Capital, with significant participation from STV, Flourish Ventures, and Arab Bank, alongside returning investors Outliers and BYLD.
Quick Facts
- Funding: $5.2 million seed extension.
- Total Seed: Reaches a total of $9.2 million.
- Lead Investor: BECO Capital leads the round.
Addressing a Growing Market Need
The rapid pace of fundraising highlights the significant market demand for Stream’s services. As businesses across MENA scale quickly and adopt more complex revenue models, existing billing infrastructure has struggled to keep up. Stream aims to solve this by consolidating billing, payments, and post-payment operations into a single, controllable system, removing operational bottlenecks for growing companies.
“Billing is evolving faster than most businesses realise,” said Ibrahim Aldlaigan, Founder and CEO of Stream. “As our region is realizing its potential, infrastructure needs are changing. Stream is focused on removing any friction that slows or blocks businesses from getting paid. The demand we’re seeing from customers is clear, so we extended the round to move faster, ship more, and take Stream into its next phase.”
A Unified Platform for Modern Billing
Stream’s platform allows businesses to design flexible payment models, from one-time purchases to subscriptions and installment plans. It automates operational tasks like reconciliation, payment reminders, and financial reporting. A key feature for the local market is its deep integration with ZATCA, ensuring Saudi tax compliance. The company has also recently shipped subscription management APIs and introduced support for MCP (Model Context Protocol), setting the stage for AI-native payment functionalities.
Investor Confidence in a New Category
Investors see Stream creating a new and essential layer in the region’s financial technology stack. The platform sits between payment processing and accounting software, a space that has been largely unaddressed by incumbents.
Dany Farha, Founder and Managing Partner at BECO Capital, commented, “Our conviction in Stream was rooted in backing a resourceful exceptional founder, Ibrahim, who has deep local payments expertise and sharp product vision. We are excited to support and be part of Stream’s quest to build the billing workflow layer for MENA.”
Sarah Alsaleh, General Partner at Outliers, added, “Ibrahim and the Stream team hold our deepest conviction. They continue to capture a growing opportunity with precision of insight and relentless execution. This is exactly the kind of company that defines markets.”
From Education to Enterprise
Founded in 2024, Stream first gained traction in the education sector before expanding to serve SaaS and other service-based businesses. The platform now processes millions in payments monthly for hundreds of businesses, including major organizations like Atyab and Riyadh Schools Group. It is also seeing strong organic growth among freelancers and individual developers looking for a more efficient way to manage payments.
About Stream
Stream is a Saudi-built platform powering modern billing for businesses. From schools and gyms to SaaS and freelancers, Stream helps businesses collect faster with branded, flexible payment flows with no apps or friction. Based in Riyadh, Stream is on a mission to simplify how the region gets paid.
Source: Zawya
