Jadwa Investment has led a $50m funding round in PetroApp, a leading Saudi Arabia-based fuel management platform.
Founded in 2018, PetroApp offers cashless fuel payment and fleet management solutions, helping corporate and government fleets reduce fraud and control costs. The platform manages over 500,000 vehicles for more than 10,000 clients across Saudi Arabia, Egypt, Thailand, and Nigeria.
The investment was Jadwa’s fifth made through its flagship Jadwa GCC Diversified Private Equity Fund, with participation from regional venture capital firm Bunat Ventures.
Gulf Economist Staff Writer