In a remarkable stride towards transforming the landscape of business travel, Saudi travel startup FlyAkeed has recently secured an impressive $15.2 million in its Series A funding round. The resounding success of this funding effort, co-led by Sanabil Investments and Elm, not only underscores FlyAkeed’s potential but also signifies the growing demand for innovative travel and expense management solutions.
The Power of Innovation: FlyAkeed’s Triumph
FlyAkeed, headquartered in Riyadh, emerges as a pioneering force in the realm of travel and expense management solutions. With its fresh infusion of funding totaling $15.2 million, the company stands poised to redefine the way corporations and individuals navigate the world of travel. This significant milestone has been achieved through a Series A funding round that saw participation from prominent entities including Sanabil Investments, Elm, Artal Capital, and Alrajhi Partners.
A Visionary Approach to Travel Management
Central to FlyAkeed’s philosophy is its traveler-centric model. This model seamlessly integrates travel policy, online booking, and expense management, creating a holistic omni-channel experience for business travelers. At the core of its platform lies the ability to harmonize travel-related processes, making it more convenient and efficient for both the traveler and the business. Automated approval procedures, real-time expense reports, an extensive travel inventory, and a plethora of travel-associated employee benefits are among the standout features that set FlyAkeed apart.
Streamlining Corporate Travel Expenditures
One of FlyAkeed’s key innovations lies in its capacity to simplify and optimize the management of corporate travel expenses. Through its platform, businesses can effortlessly oversee and track their employees’ travel-related spending, ultimately leading to a streamlined process and reduced costs. This streamlined approach not only enhances cost controls but also contributes to a more fulfilling and efficient experience for business travelers.
A Vision for the Future
The proceeds garnered from the successful funding round are set to propel FlyAkeed towards further expansion. The company’s sights are firmly set on reaching new cities within Saudi Arabia and the GCC region. Moreover, FlyAkeed intends to explore the realm of fintech products and solutions, a move aimed at augmenting the travel experience for both individual and corporate users. By continuously embracing innovation, FlyAkeed aims to usher in a new era of travel management.
Founder’s Perspective: A Dream Realized
Bassam Almohammadi, the visionary founder of FlyAkeed, expressed his profound enthusiasm for the successful Series A funding round. He emphasized the fundamental objective of the company—to harness technology-driven solutions that empower customers to exercise better cost controls through optimized booking and expense management processes. Almohammadi’s vision aligns with creating a travel experience that is not only efficient but also deeply rewarding.
A Shared Commitment to Excellence
Sanabil Investments and Elm, co-leaders of the funding round, echoed their unwavering support for FlyAkeed’s mission. Sanabil Investments recognized the significant role FlyAkeed plays in addressing long-standing administrative inefficiencies in business travel. This recognition is rooted in a belief in FlyAkeed’s vision and its potential to reshape the travel experience both in Saudi Arabia and beyond. Elm, on the other hand, applauded FlyAkeed’s transformative approach to modernizing business travel, underlining its alignment with Elm’s broader strategic objectives.
A Journey of Evolution
FlyAkeed’s journey began in 2017 when Bassam Almohammadi launched it as a B2C-focused platform, primarily offering online flight booking along with enticing perks. Over time, the platform evolved into a revolutionary B2B2C travel booking engine catering to businesses of all sizes and individuals. The resilience showcased by FlyAkeed during the pandemic, coupled with its commitment to digital transformation, has accelerated the modernization of travel management for large corporations.
Seizing Tomorrow: FlyAkeed’s Promise
As FlyAkeed embarks on a new chapter driven by innovation and propelled by a significant funding boost, its commitment remains unwavering. With the aspiration of shaping the future of business travel, FlyAkeed stands poised to create an environment where efficiency, cost-effectiveness, and seamless experiences converge.