Saudi-based Traveltech Startup FlyAkeed Raises $15.2M Series A Round

Saudi Arabia-based flight booking platform FlyAkeed has raised $15.2 million in its Series A round. The company’s first significant venture capital financing was led by Public Investment Fund (PIF) Sanabil Investments and Elm Company, alongside contributions from Artal Capital and Al Rajhi Partners.

Founded in 2015 by Bassam Al Mohammadi, the Riyadh-based traveltech startup’s platform allows users to browse waitlists and fully-booked flights issuing a ticket when seats become available.

In addition to traditional browse and book options on all major international airlines, travel managers will be afforded full visibility into the ticketing process through real-time insights and corporate cash wallet enabling businesses to overview bookings with greater ease.

This initial investment of $15.2 million will allow FlyAkeed to shore up its user interface and digital infrastructure while integrating fintech technology resulting in a more robust industry presence and continued benefits for corporate and individual travellers alike.