FlyAkeed, a Saudi corporate travel technology platform, announced at LEAP 2026 that it has raised SAR 94.3 million, equivalent to $25.15 million, in growth funding. The round combines equity financing led by Sanabel Investments, a wholly owned subsidiary of the Public Investment Fund, with participation from Artal Capital, tali ventures by stc, and AlJazira Capital. Artal Capital also led a Murabaha sukuk financing structure designed for the Kingdom's growing software as a service sector.
Funding structure and strategic backing
The equity component was led by Sanabel Investments, with Artal Capital, tali ventures by stc, and AlJazira Capital joining as investors. In parallel, Artal Capital led a Sharia compliant Murabaha sukuk facility designed specifically for software as a service companies. This combined structure provides FlyAkeed with both equity capital and flexible financing to support product development, underwriting for deferred travel payments, and regional expansion plans.
Market context
Business travel spending in Saudi Arabia surpassed USD 10 billion in 2024 and is expected to nearly double by 2033. Despite this scale, many companies still manage travel through phone calls, email threads, and spreadsheets with limited financial visibility. FlyAkeed replaces these fragmented processes with a unified operating system that covers flights, hotels, and ground transportation while enforcing corporate policies.
Platform automation
The platform automates approvals and routes exceptions to the appropriate manager while finance teams handle policies and workflows from a central dashboard. It also allows every riyal of travel spending to be tracked from request through reconciliation. This level of control is designed to reduce out of policy bookings and prevent budget leakage.
Supporting deferred payments and analytics
The new funding will primarily support Travel Now, Pay Later, an embedded deferred payment solution. This feature enables enterprises to book corporate travel immediately and settle later through a single consolidated invoice. FlyAkeed will also use the capital to advance artificial intelligence and analytics capabilities and accelerate expansion across Saudi Arabia and the wider Gulf Cooperation Council region.
Leadership perspectives
Founder and CEO Bassam Al Mohammadi said corporate travel in the region is still managed through phone calls, WhatsApp groups, and spreadsheets. He added that FlyAkeed is replacing those methods with a system that enforces policy, provides real time visibility, and accelerates approvals. He stated that the ambition is for FlyAkeed to become the standard for corporate mobility in the Gulf.
Investor confidence
A Sanabel Investments spokesperson noted that FlyAkeed has established a leading position by meeting a clear need for efficiency, visibility, and control in enterprise travel. Sanabel also observed continued platform development and deeper value for large clients since its initial investment. Artal Capital's head of alternative investments, Waseem Makhel, said the investment reflects confidence in FlyAkeed's strategy, management team, and long term growth.
Platform reach and client base
FlyAkeed is headquartered in Riyadh and serves more than 150 large corporate clients across Saudi Arabia. Its clients include the Public Investment Fund, Maaden, Golf Saudi, and the National Housing Company. The platform allows employees to book travel within company policy while finance teams manage policies, workflows, and spending from a single integrated dashboard.
FlyAkeed's SAR 94.3 million round highlights the increasing investor appetite for Saudi technology companies that modernize enterprise operations. By pairing equity with Sharia compliant financing, the company gains resources to scale its deferred payment model, improve analytics capabilities, and broaden its regional footprint. The announcement at LEAP 2026 positions FlyAkeed to capture a larger share of the Gulf's expanding corporate travel market.