PetroApp, a leading Saudi provider of digital fuel payment and fleet management solutions, has secured a USD 50 million investment round led by Jadwa Investment, through the Jadwa GCC Diversified Private Equity Fund, with participation from Bunat Ventures.
Founded in 2018 by Abdulaziz Al Senan, PetroApp is the first independent platform in Saudi Arabia to offer cashless fuel payments and end-to-end vehicle fleet management. The platform is helping fleets eliminate cash transactions, reduce fraud, enhance oversight, and lower operational costs for both corporate and government clients.
In addition to fuel management, PetroApp provides access to a wide range of vehicle-related services including car washes, oil changes, tire and battery replacements—all enabled through a seamless, fully digital platform.
Today, PetroApp serves over 500,000 vehicles and more than 10,000 corporate clients via a network of 5,000+ fuel stations across Saudi Arabia, Egypt, Thailand, and Nigeria, as it expands internationally. The company was recently accredited by EXPRO, the Expenditure and Projects Efficiency Authority, as a qualified provider for government services, and is preparing to launch its retail offering in the Saudi market.
This round marks Jadwa’s fifth investment under its flagship private equity fund. The firm previously acquired a majority stake in Makhazen Alenaya, a Saudi beauty and personal care retail leader, further highlighting its focus on high-growth sectors.
Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, said:
“PetroApp presents a compelling investment opportunity, supported by a robust technology infrastructure and strong network effects. The investment aligns with our fund’s strategy of backing ambitious management teams leading high-growth, scalable businesses across a diversified range of promising sectors.”
Elie El-Khoury, Head of Private Equity at Jadwa, added:
“PetroApp’s impactful solution reflects the kind of innovation that supports Vision 2030’s broader shift toward digitizing critical sectors across the Kingdom. This is further reflected in PetroApp’s recent accreditation as a qualified service provider by EXPRO.”
Abdullah Al Kasabi, Chairman of PetroApp and CEO of RZM Investment, commented:
“Back in 2020, we saw in PetroApp a promising model that blends innovation with operational efficiency in serving both fuel stations and corporate clients. Our decision to invest was driven by a clear conviction in the company’s vision and its strong potential to deliver sustainable growth. Today, we are proud to welcome Jadwa Investment and Bunat Ventures. This marks a defining milestone in PetroApp’s institutional journey and supports our ambition to list on the Saudi Exchange’s Main Market.”
Abdulaziz Al Senan, Co-Founder and CEO of PetroApp, said:
“We are excited to embark on this partnership at a pivotal stage in PetroApp’s journey. Jadwa’s institutional expertise will be critical in strengthening our foundation, accelerating growth, and expanding our leadership in Saudi Arabia and beyond. Together, we remain committed to setting new benchmarks in fuel and fleet management innovation, aligning with our customers’ evolving expectations and the broader objectives of Saudi Vision 2030.”
