Riyadh – Mubasher: FlyAkeed, a traveltech startup in Saudi Arabia, has secured $15.20 million, equivalent to SAR 57 million, in a Series A round.
The fundraising transaction was led by Sanabil Investments, wholly owned by Public Investment Fund (PIF), and Elm Company, along with the participation of Artal Capital and Al Rajhi Partners.
FlyAkeed will use the proceeds of the funding to scale up its digital offerings in its home market. This is in addition to integrating fintech technologies to improve the traveller experience and help businesses better manage corporate travel.
Established in 2017 by Bassam AlMohammadi, FlyAkeed offers a flight-booking platform that meets the needs of consumers as well as businesses.
The platform enables travel managers to have full visibility into the ticketing process through real-time insights, which, in turn, ensures policy compliance and greater control of employees’ travel spending.
