PetroApp, Saudi Arabia’s first independent digital platform for fuel payments and fleet management, has raised $50 million in a strategic funding round. The investment was led by Jadwa Investment, via its GCC Diversified Private Equity Fund, with additional backing from Bunat Ventures.
This funding marks a major milestone for PetroApp as it scales its platform and expands its reach, both domestically and internationally.
Transforming Fuel and Fleet Operations
Founded in 2018 by Abdulaziz Al Senan, PetroApp offers a smart, cashless fuel payment system combined with full-spectrum vehicle fleet management. Designed to eliminate manual processes and reduce fraud, the platform helps businesses and government entities operate with better visibility, lower costs, and greater efficiency.
PetroApp also supports:
- ✅ Digital payments for fuel and maintenance
- ✅ Real-time fleet monitoring and transaction tracking
- ✅ Integrated services such as car washes, oil changes, tire services, and battery replacements
- ✅ Cashless solutions that improve operational control and reduce human error
A Network Built for Scale
Today, PetroApp manages over 500,000 vehicles and serves 10,000+ corporate clients. It has operations across a vast network of 5,000+ fuel stations in Saudi Arabia, Egypt, Thailand, and Nigeria.
The company’s reach continues to grow as it prepares to roll out a retail offering in Saudi Arabia. It was also recently accredited by EXPRO, the Expenditure and Projects Efficiency Authority, as a qualified service provider for government contracts. This is a key step in deepening its public sector footprint.
Strategic Investment for the Future
This round marks Jadwa Investment’s fifth deployment under its flagship private equity fund. The firm’s previous investments include Makhazen Alenaya. Makhazen Alenaya is a major player in beauty and personal care retail, reflecting a sharp focus on high-growth sectors.
Tariq Al-Sudairy, CEO of Jadwa Investment, stated:
“PetroApp is a prime example of a scalable, tech-driven business with strong market potential. Our investment supports high-growth ventures that align with the Kingdom’s transformation goals.”
Elie El-Khoury, Head of Private Equity at Jadwa, added:
“PetroApp’s innovation is a direct match with Vision 2030’s push to digitize key sectors. Their EXPRO accreditation confirms their alignment with national priorities.”
On the Road to Public Listing
Abdullah Al Kasabi, Chairman of PetroApp and CEO of RZM Investment, reflected on the journey:
“We believed in PetroApp’s vision early on. Welcoming Jadwa and Bunat Ventures is a major step toward our goal of listing on the Saudi Exchange’s Main Market.”
Abdulaziz Al Senan, Co-founder and CEO, concluded:
“This partnership is a game-changer. With Jadwa’s support, we’re ready to strengthen our foundation, scale rapidly, and continue shaping the future of fleet and fuel management—aligned with the goals of Saudi Vision 2030.”