Saudi PetroApp Secures $50M Funding Led by Jadwa

Saudi fuel and fleet management platform PetroApp has raised $50 million in a funding round led by Jadwa Investment through its GCC Diversified Private Equity Fund, with participation from Bunat Ventures. Founded in 2018 by CEO Abdulaziz Al Senan, PetroApp offers a cashless, AI-powered platform that manages over 500,000 vehicles across more than 10,000 corporate clients and 5,000 fuel stations in Saudi Arabia, Egypt, Thailand, and Nigeria. The new capital will support PetroApp's planned initial public offering on the Saudi Exchange, expansion into retail and government sectors, and enhancement of its technology infrastructure. Recently accredited by Saudi’s Expenditure and Projects Efficiency Authority as a qualified government vendor, PetroApp aims to accelerate regional growth and align with Saudi Vision 2030 goals. Jadwa's investment marks its fifth under the fund and is part of a broader strategy to back innovative regional companies, with PetroApp expecting to exceed $2.66 billion in revenue this year. The funding underscores growing interest in digitizing mobility and fleet services across the Middle East and beyond.