FlyAkeed Raises $25.15M to Expand Corporate Travel and Embedded Finance

Bassam Almohammadi, FlyAkeed founder & CEO

Saudi corporate travel platform FlyAkeed has secured US$25.15 million (SAR 94.3 million) in growth funding through equity and Murabaha sukuk financing. Led by Sanabil Investments, the round will fund FlyAkeed’s deferred-payment offering, AI and analytics capabilities, and expansion across Saudi Arabia and the GCC as corporate travel spending grows.

Why Did FlyAkeed Raise $25.15 Million?

Saudi Arabia-based corporate travel technology platform FlyAkeed has secured $25.15 million (SAR 94.3 million) in growth funding, combining an equity investment with Murabaha sukuk financing. The financing was announced at LEAP 2026 in Riyadh.

The round brings together four investors across its equity component:

Investor	Role in the Round	Affiliation
Sanabil Investments	Led equity investment	Wholly owned by Saudi Arabia’s Public Investment Fund (PIF)
Artal Capital	Equity participant; led Murabaha sukuk	Investment and financing firm
tali ventures	Equity participant	Corporate venture capital arm of stc Group
Aljazira Capital	Equity participant	Saudi investment firm

Artal Capital also led the Murabaha sukuk financing, giving FlyAkeed a Shariah-compliant financing structure alongside the equity investment.

The transaction is notable because it combines venture equity with a financing facility designed to support a software company's next phase of growth, rather than relying solely on conventional equity capital.

What Does FlyAkeed Do?

Founded in 2015 and headquartered in Riyadh, FlyAkeed operates a corporate travel management platform that brings booking, approvals, travel policies and expense management into a single system.

Its platform enables employees to:

• Book flights, hotels and ground transportation.
• Make bookings within their company's travel policies.
• Route requests through automated approval workflows.
• Manage business travel through a centralized platform.

For businesses, FlyAkeed provides visibility into travel policies, workflows and expenditure through one dashboard.

The company currently serves more than 150 corporate clients across Saudi Arabia, including PIF, Maaden, Golf Saudi and the National Housing Company.

How Will FlyAkeed Use Its New Funding?

The largest strategic component of the financing will support FlyAkeed's new embedded deferred-payment offering, branded Travel Now, Pay Later.

The product allows enterprise customers to book travel upfront and settle their travel expenses later through a consolidated invoice, giving large businesses more flexible payment terms.

FlyAkeed also plans to use the financing to:

• Expand its AI and analytics capabilities.
• Accelerate growth across Saudi Arabia.
• Expand into other GCC markets.
• Build further financial functionality into its corporate travel platform.

This shifts FlyAkeed's proposition beyond travel management. By combining booking infrastructure with embedded financing, the company is positioning its platform closer to the intersection of enterprise SaaS, payments and corporate expense management.

How Large Is Saudi Arabia's Corporate Travel Market?

The funding comes as Saudi Arabia's corporate travel market continues to expand.

Business travel expenditure in the Kingdom exceeded $10 billion in 2024 and is projected to roughly double by 2033, according to figures cited by FlyAkeed and reported in connection with the financing.

Several structural factors are supporting demand, including Saudi Arabia's growing role as a regional business hub, major giga-projects and international events. The result is a larger and more complex corporate travel ecosystem requiring companies to manage bookings, approvals, employee travel and expenditure at scale.

For FlyAkeed, that creates an opportunity to capture value at multiple points in the corporate travel workflow—not just when a booking is made, but also when the resulting expense is managed and paid.

What Does FlyAkeed's New Financing Strategy Mean for Corporate Travel?

FlyAkeed's latest round signals a broader shift in how enterprise travel technology can be monetized in Saudi Arabia.

Its original proposition centered on digitizing corporate travel management. The new deferred-payment product adds a financial layer to that infrastructure, potentially allowing FlyAkeed to become part of the payment and working-capital workflow as well.

Founder and CEO Bassam Almohammadi said the company's objective is to replace fragmented corporate travel processes with a centralized operating system that provides visibility over bookings, approvals and spending.

“Large enterprises don’t just want better software; they want better payment terms. Now we give them both,” Almohammadi said.

The SAR 94.3 million financing therefore supports more than geographic expansion. It gives FlyAkeed additional capital to build financial services into an established enterprise travel platform, while the projected growth of Saudi business travel provides a larger addressable market for that model.

 

 

FAQs

1. How much funding did FlyAkeed raise in 2026?
FlyAkeed secured $25.15 million (SAR 94.3 million) in growth funding in 2026 through a combination of equity investment and Murabaha sukuk financing.

2. Who invested in FlyAkeed's latest funding round?
The equity investment was led by Sanabil Investments, with participation from Artal Capital, tali ventures by stc Group, and Aljazira Capital. Artal Capital also led the Murabaha sukuk financing.

3. What will FlyAkeed use the funding for?
FlyAkeed will primarily fund its Travel Now, Pay Later deferred-payment offering, while also expanding its AI and analytics capabilities and operations across Saudi Arabia and the GCC.

4. How many corporate customers does FlyAkeed serve?
FlyAkeed currently serves more than 150 corporate clients in Saudi Arabia, including PIF, Maaden, Golf Saudi and the National Housing Company.

5. How large is Saudi Arabia's corporate travel market?
Business travel spending in Saudi Arabia exceeded $10 billion in 2024 and is projected to roughly double by 2033, according to figures cited by FlyAkeed.