Saudi FlyAkeed secures $25.15 million to scale enterprise travel platform
Wamda
- Saudi Arabia-based corporate traveltech platform FlyAkeed has secured SAR 94.3 million ($25.15 million) in growth funding, combining an equity investment and Murabaha sukuk financing.
- The equity investment was led by Sanabil Investments, a PIF-owned investment company, with participation from Artal Capital, stc Group’s corporate venture capital fund tali ventures, and Aljazira Capital, while Artal Capital led the Murabaha sukuk financing.
- Founded in 2015 by Bassam Almohammadi, FlyAkeed provides a corporate travel management platform that enables businesses to manage flights, hotels, ground transportation, approvals, travel policies and spending through a single system.
- The funding will primarily support the launch and expansion of an embedded deferred-payment offering for large enterprises, allowing corporate customers to settle travel invoices on more flexible payment terms.
Press release:
Saudi Arabia-based corporate travel technology platform FlyAkeed has secured SAR 94.3 million ($25.15 million) in growth funding, combining an equity investment with Murabaha sukuk financing. The financing was announced at LEAP 2026 in Riyadh.
The equity portion was led by Sanabil Investments, an investment company wholly owned by Saudi Arabia’s Public Investment Fund (PIF), with participation from Artal Capital, stc Group’s corporate venture capital fund tali ventures, and Aljazira Capital. Artal Capital also led the Murabaha sukuk financing, providing FlyAkeed with a Shariah-compliant financing structure alongside the equity investment.
Founded in 2015 and headquartered in Riyadh, FlyAkeed operates a corporate travel management platform designed to centralise business travel processes. Employees can book flights, hotels and ground transportation within company policies, while businesses can automate approvals and manage travel policies, workflows and expenditure through a single dashboard.
The company currently serves more than 150 corporate clients across Saudi Arabia, including PIF, Maaden, Golf Saudi and the National Housing Company.
FlyAkeed plans to use the funding primarily to support a new embedded deferred-payment offering for large enterprises. The product is designed to allow corporate customers to settle travel invoices under more flexible payment terms.
The company is targeting Saudi Arabia’s expanding corporate travel market, where business travel expenditure exceeded $10 billion in 2024 and is projected to roughly double by 2033, according to figures cited by FlyAkeed.
“Corporate travel in our region still runs on phone calls, WhatsApp groups and spreadsheets. We are replacing that with an operating system: every trip inside policy, every riyal visible in real time, every approval in seconds,” said Bassam Almohammadi, founder and CEO of FlyAkeed.
“Large enterprises don’t just want better software; they want better payment terms. Now we give them both,” he added.
