FlyAkeed, the Saudi corporate-travel technology platform, announced Wednesday from the main stage at LEAP 2026 that it has secured SR94.3 million ($25.15 million) in growth funding.
The round pairs an equity investment led by Sanabil Investments – a financial investment company wholly owned by the Public Investment Fund (PIF) – with participation from Artal Capital, alongside stc group’s corporate venture capital fund and Aljazira Capital. Artal Capital has also led our Murabaha sukuk financing, a pioneering Shariah-compliant growth financing structure tailored to the Kingdom’s expanding SaaS ecosystem.
The funding will primarily support a new embedded deferred payment offering that enables a larger segment of enterprises to settle travel invoices with more flexible payment terms.
Business travel in the Kingdom has become a board-level cost line: spend exceeded $10 billion in 2024 and is projected to roughly double by 2033, as giga-projects, global events and Saudi Arabia’s rise as the region’s headquarters hub multiplies corporate movement. Yet at most companies, travel remains a manual process that is coordinated across phone calls, email threads and spreadsheets; leaving finance teams with little visibility and significant spend leaking into out-of-policy bookings.
FlyAkeed replaces those issues with a single operating system for corporate travel. Employees book flights, hotels and ground transportation within company policy, approvals happen automatically or route to the right manager and finance teams manage policies, workflows and spend from one dashboard. Every riyal is visible from request to reconciliation. Founded in 2015 and headquartered in Riyadh, FlyAkeed today serves more than 150 corporate clients across Saudi Arabia [including PIF, Maaden, Golf Saudi and National Housing Company.
Bassam Almohammadi, Founder and CEO of FlyAkeed, said: “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. With Sanabil Investments, Artal Capital, tali ventures and Aljazira Capital behind us, our ambition is simple — to make FlyAkeed the standard for how enterprises in the Gulf move.”
A spokesperson at Sanabil Investments, said: “FlyAkeed has built a strong position in Saudi Arabia by addressing a clear and growing need for businesses to manage travel with greater efficiency, visibility and control. Since our initial investment, we have seen the team continue to strengthen the platform and deepen its value to enterprise customers. We are pleased to continue supporting Bassam and the FlyAkeed team in their next phase of growth.”
Wassim Moukahhal, Head of Alternative Investments at Artal Capital, said: “FlyAkeed has established a compelling position in Saudi Arabia’s corporate travel market. Our continued support, across both equity and sukuk financing, reflects our conviction in the company’s strategy, management team, and long-term growth prospects. We look forward to supporting FlyAkeed as it scales its platform and continues to deliver meaningful value to corporate clients across the Kingdom.”
Almohammadi added: “Large enterprises don’t just want better software; they want better payment terms. Now we give them both.”
Source: Saudi Gazette