Data News > PetroApp Closes $50 Million Fund Round to Fuel Global Expansion and IPO Plans
For more information:
Earning Price Impact Earning Estimates Earning Call Transcript
PetroApp Closes $50 Million Fund Round to Fuel Global Expansion and IPO Plans
By KlickAnalytics Data Insights | July 2, 2025 10:57AM ET
- PetroApp secures a $50 million investment round led by Jadwa Investment
- Bunat Ventures also participates in the fundraising transaction
- Funding will expedite PetroApp's global expansion, advance IPO plans, and enhance services for retail and government clients
Saudi digital fuel and fleet management platform, PetroApp, has successfully concluded a $50 million investment round, with Jadwa Investment leading the financing through its GCC Diversified Private Equity Fund. In addition to Jadwa, Bunat Ventures also participated in the fundraising transaction, as revealed in a recent press release.
The injection of capital is expected to accelerate PetroApp's global expansion efforts, advance its plans for an initial public offering (IPO) on the Main Market of the Saudi Exchange (Tadawul), and improve services for both retail and government clients. Abdullah Al Kasabi, Chairman of PetroApp and CEO of RZM Investment, expressed his excitement about the new investors, describing the deal as a "defining milestone" in PetroApp's institutional journey. Additionally, Abdulaziz Al Senan, Founder and CEO of PetroApp, emphasized that the partnership with Jadwa and Bunat will solidify the company's foundation and drive growth.
"Our commitment remains unwavering in setting new benchmarks in fuel and fleet management innovation, in line with our customers' evolving expectations and the broader objectives of Saudi Vision 2030," Al Senan added.
Founded in 2018, PetroApp is Saudi Arabia's premier independent provider of cashless fuel and fleet management solutions. With over 500,000 vehicles and 10,000 corporate and government clients in its network across Saudi Arabia, Egypt, Thailand, and Nigeria, PetroApp operates through a network of 5,000 fuel stations and projects revenues exceeding SAR 10 billion in 2025. The platform has expanded its services to include car washes, oil changes, and tire and battery replacements, with a focus on investing in AI-powered analytics to enhance operational efficiency and enable predictive maintenance.
PetroApp's recent approval as an authorized service provider by the Saudi Authority for Government Procurement and Expenditure Efficiency further cements its position as a leader in the fuel and fleet management sector, with promising growth prospects on the horizon.
- Bunat Ventures also participates in the fundraising transaction
- Funding will expedite PetroApp's global expansion, advance IPO plans, and enhance services for retail and government clients
Saudi digital fuel and fleet management platform, PetroApp, has successfully concluded a $50 million investment round, with Jadwa Investment leading the financing through its GCC Diversified Private Equity Fund. In addition to Jadwa, Bunat Ventures also participated in the fundraising transaction, as revealed in a recent press release.
The injection of capital is expected to accelerate PetroApp's global expansion efforts, advance its plans for an initial public offering (IPO) on the Main Market of the Saudi Exchange (Tadawul), and improve services for both retail and government clients. Abdullah Al Kasabi, Chairman of PetroApp and CEO of RZM Investment, expressed his excitement about the new investors, describing the deal as a "defining milestone" in PetroApp's institutional journey. Additionally, Abdulaziz Al Senan, Founder and CEO of PetroApp, emphasized that the partnership with Jadwa and Bunat will solidify the company's foundation and drive growth.
"Our commitment remains unwavering in setting new benchmarks in fuel and fleet management innovation, in line with our customers' evolving expectations and the broader objectives of Saudi Vision 2030," Al Senan added.
Founded in 2018, PetroApp is Saudi Arabia's premier independent provider of cashless fuel and fleet management solutions. With over 500,000 vehicles and 10,000 corporate and government clients in its network across Saudi Arabia, Egypt, Thailand, and Nigeria, PetroApp operates through a network of 5,000 fuel stations and projects revenues exceeding SAR 10 billion in 2025. The platform has expanded its services to include car washes, oil changes, and tire and battery replacements, with a focus on investing in AI-powered analytics to enhance operational efficiency and enable predictive maintenance.
PetroApp's recent approval as an authorized service provider by the Saudi Authority for Government Procurement and Expenditure Efficiency further cements its position as a leader in the fuel and fleet management sector, with promising growth prospects on the horizon.
For more information:
To view full story, Upgrade to PRO plan!
Disclaimer: the above is a summary showing certain market information. KlickAnalytics is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from various resources and more. Communications displaying market prices, data and other information available in this post are meant for purely for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.