Saudi fintech startup Stream has secured a $5.2 million seed extension led by BECO Capital, bringing its total seed funding to $9.2 million as the company positions itself as a core financial infrastructure provider for businesses across the Middle East and North Africa (MENA).

The round also drew participation from STV, Flourish Ventures, Arab Bank, alongside existing investors Outliers and BYLD.

Founded in 2024 in Riyadh, Stream is building infrastructure that combines billing, payments and post-payment operations into a unified platform aimed at helping businesses automate collections, reconciliation, subscriptions and reporting.

The company says the funding comes amid growing demand from businesses in MENA that are scaling rapidly but still rely on fragmented financial systems ill-equipped for modern revenue models such as subscriptions, installment plans and recurring payments.

“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.”

Stream has been expanding its platform beyond basic payment processing into broader financial operations tooling. The startup recently launched subscription management APIs that allow businesses to build recurring billing models and introduced support for MCP (Model Context Protocol), which it describes as a step toward AI-native payments infrastructure.

The platform also integrates with Saudi Arabia’s tax authority system, ZATCA, helping businesses remain compliant with local invoicing and tax regulations.

According to the company, Stream initially gained traction in the education sector before expanding into SaaS and service-led businesses. It now processes millions of dollars in payments monthly and serves hundreds of businesses, including organizations such as Atyab and Riyadh Schools Group.

BECO Capital founder and managing partner Dany Farha said the investment thesis centered on Stream’s potential to create an entirely new category between payment processors and accounting software.

“Our conviction in Stream was rooted in backing a resourceful exceptional founder, Ibrahim, who has deep local payments expertise and sharp product vision,” Farha said.

The fundraising reflects increasing investor appetite for infrastructure-focused fintech startups in MENA, particularly as businesses across the region digitize operations and adopt more complex online revenue models.