FlyAkeed, the Saudi corporate travel technology platform, secured USD 25.15 million (SAR 94.3M) in growth funding. The round combines equity investment with Shariah-compliant financing.

The round was led by Sanabil Investments. It also saw participation from Artal Capital, stc group’s corporate venture capital fund, and Aljazira Capital. Additionally, Artal Capital also led the company’s Murabaha sukuk financing.

The funding will primarily support FlyAkeed’s new embedded deferred payment offering. The offering intends to enable a larger segment of enterprises to settle travel invoices with more flexible payment terms.

Why You Should Care

Corporate travel is becoming a larger operational and financial consideration for businesses in Saudi Arabia. This comes as the Kingdom expands its role as a regional business hub and continues to develop giga-projects and large-scale events.

Saudi corporate travel spending exceeded USD 10 billion in 2024 and is expected to roughly double by 2033. Yet travel management at many companies still relies on fragmented processes across calls, emails, spreadsheets, and manual approvals.

FlyAkeed is positioning its platform around that gap by bringing travel booking, company policies, approvals, and expense management into a single system. Its new payment offering adds another layer by addressing how enterprises pay for that travel, not only how they book it.

The Details

Founded in 2015 by Bassam Almohammad and headquartered in Riyadh, FlyAkeed is a corporate travel technology platform. The platform allows employees to book flights, hotels, and ground transportation within company policies. Meanwhile, approvals happen automatically or are routed to the right manager, and finance teams manage policies, workflows, and spend from one dashboard. 

“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,”

Bassam Almohammadi, Founder and CEO of FlyAkeed

Looking ahead, with the new financing, it aims to develop a new embedded deferred payment product. This is to allow a broader group of enterprises to settle travel invoices under more flexible payment terms. Additionally, it also plans to use the capital to support its wider growth.

The Ripple

FlyAkeed’s raise highlights how corporate travel technology in Saudi Arabia is moving beyond booking and expense management toward embedded financial services.

For enterprise software companies, the financing component is significant because payment terms can become part of the product itself. In FlyAkeed’s case, the new offering connects travel management with working capital considerations for corporate customers.

The deal also brings together equity and Shariah-compliant financing, reflecting the range of capital structures being used to fund the next stage of Saudi Arabia’s enterprise technology sector.

What to Watch

The key signal will be how quickly FlyAkeed can translate the new financing into adoption of its deferred payment offering among enterprises.

Its ability to expand beyond travel management into embedded financial services will also show whether corporate travel platforms can capture a broader role in enterprise spending workflows.