Saudi traveltech company FlyAkeed has secured SAR 94.3 million ($25.15 million) in growth funding, combining equity investment with Murabaha sukuk financing as it looks to expand its enterprise travel and payment capabilities.
The equity round was led by Sanabil Investments, the 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. The financing was announced at LEAP 2026 in Riyadh.
Founded in 2015 by Bassam Almohammadi and headquartered in Riyadh, FlyAkeed has built a corporate travel management platform that brings flights, hotels, ground transportation, company travel policies, approvals and expenditure management into a single system.
The platform is currently used by more than 150 corporate customers across Saudi Arabia, including PIF, Maaden, Golf Saudi and the National Housing Company.
A key focus of the new funding will be the rollout and expansion of FlyAkeed’s embedded deferred-payment offering for large enterprises. The solution will give corporate customers greater flexibility in settling travel invoices, combining travel management software with financing capabilities.
The move positions FlyAkeed at the intersection of traveltech and embedded finance, as companies increasingly look to digitise not only how business travel is booked and approved, but also how spending and payments are managed.
The opportunity is significant. Saudi Arabia’s corporate travel expenditure exceeded $10 billion in 2024 and is projected to roughly double by 2033, according to figures cited by the company.
With fresh institutional backing and an expanded financial offering, FlyAkeed is looking to strengthen its position as an enterprise infrastructure layer for corporate travel in Saudi Arabia, replacing fragmented booking, approval and expense processes with a more integrated digital platform.
