Funding Details
The round was led by early-stage investment firm Outliers VC, with participation from BYLD Ventures, Abdullah Elyas, and other angel investors.
Stream plans to utilize the new capital to advance product development in engineering, compliance, payment capabilities, and overall user experience, while strengthening its internal systems to better support its growing subscriber base, according to the company.
Billing software
Founded in 2024 by Ibrahim Aldlaigan, Stream offers billing software that automates the entire payment lifecycle—from issuing branded invoices to scheduling flexible payments, collecting through local rails, and managing cash flow and reconciliation.
Stream currently works with dozens of businesses, including Flow MENA, Riyadh Schools Football Academy, and the Artificial Intelligence Association.
In just ten months since its launch, Stream has helped businesses manage millions of riyals in payments, growing at a rate of around 40% month-on-month.
Electronic payments in Saudi
Electronic payments accounted for 79% of total retail payments in Saudi Arabia last year, up from 70% in 2023, according to the Saudi Central Bank (SAMA).
This achievement reflects the strong growth of the kingdom’s payments ecosystem in 2024, as the number of non-cash transactions reached 12.6 billion, compared to 10.8 billion in 2023.
The progress is also driven by strategic initiatives launched by SAMA in collaboration with the financial sector to foster the growth of the payments industry and expand the adoption of diverse payment options across the Gulf state.
