FlyAkeed, the Saudi corporate-travel expertise platform, introduced Monday from the principle stage at LEAP 2026 that it has secured SR94.3 million ($25.15 million) in progress funding.
The spherical pairs an fairness funding led by Sanabil Investments – a monetary funding firm wholly owned by the Public Funding Fund (PIF) – with participation from Artal Capital, alongside stc group’s company enterprise capital fund and Aljazira Capital. Artal Capital has additionally led our Murabaha sukuk financing, a pioneering Shariah-compliant progress financing construction tailor-made to the Kingdom’s increasing SaaS ecosystem.
The funding will primarily assist a brand new embedded deferred fee providing that allows a bigger section of enterprises to settle journey invoices with extra versatile fee phrases.
Enterprise journey within the Kingdom has change into a board-level price line: spend exceeded $10 billion in 2024 and is projected to roughly double by 2033, as giga-projects, world occasions and Saudi Arabia’s rise because the area’s headquarters hub multiplies company motion. But at most firms, journey stays a guide course of that’s coordinated throughout cellphone calls, e mail threads and spreadsheets; leaving finance groups with little visibility and important spend leaking into out-of-policy bookings.
FlyAkeed replaces these points with a single working system for company journey. Staff e-book flights, accommodations and floor transportation inside firm coverage, approvals occur routinely or path to the proper supervisor and finance groups handle insurance policies, workflows and spend from one dashboard. Each riyal is seen from request to reconciliation. Based in 2015 and headquartered in Riyadh, FlyAkeed immediately serves greater than 150 company shoppers throughout Saudi Arabia [together with PIF, Maaden, Golf Saudi and Nationwide Housing Firm.
Bassam Almohammadi, Founder and CEO of FlyAkeed, stated: “Company journey in our area nonetheless runs on cellphone calls, WhatsApp teams and spreadsheets. We’re changing that with an working system: each journey inside coverage, each riyal seen in actual time, each approval in seconds. With Sanabil Investments, Artal Capital, tali ventures and Aljazira Capital behind us, our ambition is straightforward — to make FlyAkeed the usual for the way enterprises within the Gulf transfer.”
A spokesperson at Sanabil Investments, stated: “FlyAkeed has constructed a robust place in Saudi Arabia by addressing a transparent and rising want for companies to handle journey with better effectivity, visibility and management. Since our preliminary funding, now we have seen the group proceed to strengthen the platform and deepen its worth to enterprise prospects. We’re happy to proceed supporting Bassam and the FlyAkeed group of their subsequent section of progress.”
Wassim Moukahhal, Head of Different Investments at Artal Capital, stated: “FlyAkeed has established a compelling place in Saudi Arabia’s company journey market. Our continued assist, throughout each fairness and sukuk financing, displays our conviction within the firm’s technique, administration group, and long-term progress prospects. We look ahead to supporting FlyAkeed because it scales its platform and continues to ship significant worth to company shoppers throughout the Kingdom.”
Almohammadi added: “Giant enterprises don’t simply need higher software program; they need higher fee phrases. Now we give them each.”
