Saudi corporate travel management platform FlyAkeed has secured SAR 94.3 million in growth funding, equivalent to $25.15 million, in a round combining an equity investment and Murabaha sukuk financing. The funding was announced during the LEAP 2026 event in Riyadh.
Sanabil Investments, an investment company wholly owned by Saudi Arabia’s Public Investment Fund, led the equity investment, with participation from Artal Capital, tali ventures—the corporate venture capital arm of stc Group—and Aljazira Capital. Artal Capital also led the Murabaha sukuk financing, providing the company with a Sharia-compliant financing structure alongside the equity investment.
A Unified Platform for Managing Business Travel
FlyAkeed was founded in 2015 by Bassam Almohammadi and is headquartered in Riyadh. The company provides a corporate travel management platform that combines flight, hotel, and ground transportation bookings in one system, along with approvals, travel policies, and expense management.
The platform enables employees to book travel services within their companies’ approved policies, while enterprises can automate approval workflows, manage rules and procedures, and track expenses through a single dashboard. FlyAkeed currently serves more than 150 corporate clients in Saudi Arabia, including PIF, Maaden, Golf Saudi, and National Housing Company.
Funding Focuses on Deferred Payments
The funding will not be used solely to expand the existing platform, as FlyAkeed plans to direct it primarily toward launching and expanding an embedded deferred payment service designed for large enterprises. The service aims to give corporate customers more flexible terms for settling travel invoices.
This means the new expansion focus is not limited to digitizing bookings or organizing approvals, but also involves connecting business travel management with an in-platform financial settlement mechanism. This point stands out as the most important practical change in the round, because beneficiary companies will handle travel procedures and payment terms within a single system, according to FlyAkeed.
Why Does This Funding Matter?
The company is targeting the corporate travel market in Saudi Arabia, where spending on business trips exceeded $10 billion in 2024, according to figures cited by FlyAkeed, with expectations that it will nearly double by 2033. The source does not provide details about the size of the new service, when it will become available, or its eligibility and settlement terms, so the scope of its rollout to enterprises cannot be determined precisely at this stage.
FlyAkeed says corporate travel in the region still relies on phone calls, WhatsApp groups, and spreadsheets, and that its platform replaces these tools with a system that monitors policy compliance, spending, and approvals. What is confirmed by the funding announcement is that the company is linking its next phase of expansion to large enterprises’ need for better payment terms, alongside travel management tools, rather than merely adding new booking features.