Investment: “FlyAkeed raises USD 25.15M”
FlyAkeed, a Saudi corporate travel technology platform, secured USD 25.15 million (SAR 94.3M) in growth funding in a round led by Sanabil Investments; the round combines equity investment with Shariah‑compliant financing.
Other participants in the financing included Artal Capital, stc group’s corporate venture capital fund, and Aljazira Capital. Artal Capital also led the company’s Murabaha sukuk financing. The funding will primarily support FlyAkeed’s new embedded deferred payment offering to enable a larger segment of enterprises to settle travel invoices with more flexible payment terms.
Founded in 2015 by Bassam Almohammad and headquartered in Riyadh, FlyAkeed provides a corporate travel management platform that lets employees book flights, hotels, and ground transportation within company policies. The platform automates approvals or routes them to the appropriate manager, while finance teams manage policies, workflows, and spend from a single dashboard.
With the new financing, FlyAkeed plans to develop its embedded deferred payment product to allow more enterprises to settle travel invoices under flexible payment terms and to support its broader growth ambitions in the Saudi corporate travel market.
“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,”
