Saudi’s FlyAkeed Raises USD 25.15M to Launch Deferred Payments for Enterprise Travel

FlyAkeed, the Riyadh-headquartered corporate travel technology platform, has raised USD 25.15 million (SAR 94.3 million) in growth funding combining equity and Shariah-compliant financing. The round was led by Sanabil Investments and included participation from Artal Capital, stc group’s corporate venture capital fund, and Aljazira Capital. Artal Capital also led the company’s Murabaha sukuk financing. FlyAkeed said the new capital will primarily be used to launch an embedded deferred payment product for enterprise travel and to support wider company growth.

“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,” said Bassam Almohammadi, Founder and CEO of FlyAkeed.

Details of the raise and product focus

Founded in 2015 by Bassam Almohammad and headquartered in Riyadh, FlyAkeed provides an integrated system for corporate travel that combines booking for flights, hotels and ground transportation with company policy enforcement, automated approvals and expense management dashboards. The company has positioned itself to replace fragmented travel management processes — including manual approvals and spreadsheet-based expense workflows — with an operating system tailored to enterprise needs.

The USD 25.15 million round uses a mix of equity and Shariah-compliant financing, a structure that the company and investors say reflects a broader range of capital options being deployed in Saudi Arabia’s enterprise technology market. Artal Capital’s role in leading the Murabaha sukuk financing highlights the use of Islamic finance instruments alongside traditional equity in the transaction.

• Lead investor: Sanabil Investments
• Participants: Artal Capital, stc group’s corporate venture capital fund, Aljazira Capital
• Finance type: Combination of equity and Murabaha sukuk (Shariah-compliant financing)

Market context

Corporate travel spending in Saudi Arabia surpassed USD 10 billion in 2024 and is forecast to roughly double by 2033, underlining the scale of the addressable market for FlyAkeed’s platform. As companies expand operations and manage travel for major projects and large-scale events, the operational and financial complexity of corporate travel is growing. FlyAkeed’s new deferred payment offering aims to address the payment side of that workflow by giving enterprises more flexible terms to settle travel invoices — effectively embedding working capital considerations into the travel management product.

Beyond simplifying booking and expense reporting, embedding flexible payment terms could make FlyAkeed’s platform more attractive to finance teams managing cash flow and approvals. The company argues that linking payment terms directly to travel management can turn payment flexibility into a product differentiator for enterprise customers.

Outlook

The immediate signal to watch is how quickly FlyAkeed can convert the financing into customer adoption of its deferred payment solution. Success will depend on enterprise willingness to adopt embedded financial services for travel, the company’s ability to underwrite and manage payment risk, and integrations with corporate finance workflows. If adoption accelerates, FlyAkeed could strengthen its position as a travel operating system that not only manages bookings and policies but also delivers working capital solutions to enterprise customers across Saudi Arabia and the broader region.