Latest news with #PetroApp
Arab News
05-07-2025
- Automotive
- Arab News
Saudi Arabia crowns new technology unicorn
RIYADH: Saudi Arabia and the wider Middle East and North Africa region have witnessed a surge of startup funding rounds in recent weeks, underscoring the Kingdom's pivotal role in driving technology investment and digital transformation across diverse sectors. Saudi-based quick-commerce startup Ninja has raised $250 million in a funding round led by Riyad Capital, lifting its valuation to $1.5 billion and marking its emergence as the country's latest technology unicorn. Founded in 2022 by Saud Al Qahtani and Canberk Donmez, Ninja delivers groceries and daily essentials across Saudi Arabia, Bahrain, Qatar, and Kuwait, reflecting the region's growing appetite for fast, tech-enabled consumer services. The fresh capital will enable the company to scale logistics capabilities, expand into new geographies, and lay the groundwork for a planned public listing on the Saudi Exchange by 2027. The transaction highlights Riyad Capital's role as a prominent institutional investor in MENA startups, as well as Saudi Arabia's rising stature as a venture capital hub as it diversifies its economy under Vision 2030. PetroApp secures $50m to digitize fuel and fleet management PetroApp, Saudi Arabia's digital fuel and fleet management platform, has raised $50 million in a funding round led by Jadwa Investment through its GCC Diversified Private Equity Fund, with participation from Bunat Ventures. Established in 2018 by Abdulaziz Al-Senan, PetroApp operates a cashless system designed to streamline corporate and government fleet payments while reducing fraud. The platform also offers value-added vehicle services such as oil changes, car washes, and tire replacements. The capital injection will support PetroApp's retail launch within Saudi Arabia, accelerate its international expansion plans, and further develop its proprietary technology infrastructure. 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.' Abdulaziz Al-Senan, co-founder and CEO of PetroApp, described the partnership as a critical milestone, adding: '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.' Flawless raises $1.5m to expand AI-powered career guidance Saudi Arabia-based Flawless has secured $1.5 million in pre-seed funding from a group of unnamed angel investors with an emphasis on early-stage innovation. Founded by Shaimaa Al-Ghamdi, the platform combines generative artificial intelligence with principles of social psychology to deliver personalized career guidance to users seeking better-informed professional decisions. Flawless evolved from a personal blog launched in 2023 to a fully operational digital business in 2024, targeting a gap in the market for data-driven career support solutions. Al-Ghamdi said: 'What began as a passion project is now a data-driven platform helping thousands make smarter career decisions.' She added: 'This funding validates our approach and gives us the fuel to scale responsibly and impactfully.' The investment will be allocated to scaling the company's technology infrastructure, refining its product offering, and recruiting new talent to grow operations. Byzanlink raises $1m to build blockchain-based financial infrastructure Dubai-based Byzanlink, a real-world asset tokenization platform, has closed a $1 million private funding round backed by Outlier Ventures, NTDP Saudi Arabia, Smart IT Frame, Sensei Capital, and several angel investors. Founded in 2024 by Anbu Kannappan, the startup operates from Dubai Multi Commodities Centre and is focused on building infrastructure to tokenize traditional financial assets for both institutional and retail investors. What began as a passion project is now a data-driven platform helping thousands make smarter career decisions. Shaimaa Al-Ghamdi, Flawless founder The company aims to improve market access, transparency, and operational efficiency through blockchain technology. Byzanlink plans to allocate the proceeds toward product development, expanding integrations with ecosystem partners, and reinforcing compliance with evolving regulatory frameworks. Kannappan said: 'Support from such a diverse and forward-thinking group of partners is a strong signal for what we're building. We believe the next generation of financial infrastructure will be powered by transparency, automation, and access. We're committed to building that foundation.' Idea-L secures $1m to scale venture creation platform UAE-based idea-L has raised a $1 million pre-seed round from a group of undisclosed angel investors to advance its AI and Web3-powered venture creation platform. Founded in 2024 by Peter Goodwin, Daniel Muller, and Mark Hill, idea-L is designed to help entrepreneurs transform early-stage concepts into investor-ready businesses through automation and digital collaboration tools. The funding will be used primarily for technical hiring, platform enhancements, and the launch of new products intended to streamline venture creation workflows. The company aims to position itself as a key enabler in the UAE's growing startup ecosystem by combining generative AI and tokenized ownership structures. InstaBank secures $15m to drive digital banking in Iraq InstaBank, officially operating as Al-Fawr Digital Bank, has raised $15 million in funding to support the rollout and growth of its digital banking services in Iraq. UAE-based EQIQ, a venture capital fund and venture builder, contributed $3 million as part of the round, which aims to transform Iraq's underdeveloped banking sector. Founded in 2025 by Hussain Qaragholi, InstaBank plans to use AI-powered tools and customer-centric design to deliver accessible, scalable financial services. The digital bank will play a central role in EQIQ's broader fintech strategy, which integrates banking, logistics, and social commerce solutions to accelerate financial inclusion across Iraq. The investment underscores the rising investor interest in digitizing the country's financial infrastructure and tapping into its large unbanked population. EQIQ views InstaBank as a strategic asset to drive economic participation and modernize financial ecosystems. AgriCash raises seed funding to scale AI-powered agri-fintech platform Egypt-based agri-fintech platform AgriCash has secured an undisclosed amount of seed funding in a round led by Alex Angels, with participation from regional investors. Founded in 2024 by Diaa Youssef and Mostafa El-Sehli, AgriCash offers farmers a digital platform combining financing solutions, AI-driven agronomic insights, crop insurance, and access to input markets. The funding will help AgriCash expand its operations across Egypt and into neighboring markets, strengthen its AI infrastructure, and finalize integrations with insurance and banking partners. The company's flagship buy now, pay later model provides farmers with interest-free access to agricultural and livestock supplies for up to 12 months, with credit ceilings of up to 3 million Egyptian pounds ($60,777). AgriCash aims to achieve 500 million Egyptian pounds in business volume by 2025 and plans to launch livestock financing in 2026 to consolidate its position as an end-to-end agri-finance platform serving smallholder farmers and commercial producers.
Zawya
03-07-2025
- Business
- Zawya
Ninja closes $250mln funding, plans IPO on Tadawul by 2027
Riyadh - Saudi q-commerce startup Ninja has raised $250 million in a funding round led by Riyad Capital, reaching a $ 1.50 billion valuation. The fundraising transaction anchors the platform's status as the Kingdom's latest tech unicorn, according to a press release. Ninja will use the new capital to expand operations, scale its logistics capabilities, and prepare for a public listing on the Saudi Exchange (Tadawul) by 2027. The company joins a growing list of Gulf tech firms considering initial public offerings (IPOs) as the region seeks to establish a deeper and more dynamic capital market ecosystem. Saudi digital fuel and fleet management platform PetroApp also unveiled IPO plans on Tadawul. The funding round also highlights Riyad Capital's role as a leading institutional backer of MENA startups and Saudi Arabia's rising stature as a venture capital hub. Established in 2022 by Saud Al Qahtani and Canberk Donmez, Ninja delivers groceries and daily essentials across Saudi Arabia, Bahrain, Qatar, and Kuwait. In January 2023, Ninja raised a pre-seed round led by Bunat Ventures, along with several venture capital (VC) firms from the region, the US, and family offices in Saudi Arabia. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Fintech News ME
03-07-2025
- Automotive
- Fintech News ME
Saudi's PetroApp Secures $50M to Support IPO and Expansion
PetroApp, a Saudi Arabia-based independent digital platform for fuel payments, fleet management, and vehicle services, has closed a US$50 million funding round. The investment was led by Jadwa Investment through its GCC Diversified Private Equity Fund, with additional participation from Bunat Ventures. Established in 2018, PetroApp is Saudi Arabia's first standalone provider of cashless fuel payment and fleet management solutions. The platform eliminates the need for cash transactions, reduces fraud risk, and offers real-time cost control for corporate and government fleet operators. Over time, the company has expanded its services to include car washes, oil changes, and tyre and battery replacements, while incorporating artificial intelligence to support operational efficiency and predictive maintenance. PetroApp currently manages more than 500,000 vehicles globally for over 10,000 clients, including corporations and government entities. Its network spans 5,000 fuel stations across Saudi Arabia, Egypt, Thailand, and Nigeria. The company forecasts revenue exceeding SAR 10 billion in 2025. The latest capital injection will be used to support PetroApp's plans for an initial public offering on the Saudi Exchange (Tadawul), expand its international footprint, and introduce new AI-powered vehicle management services. The company also intends to increase its offerings to the retail and government sectors. It has recently been named an approved service provider by the Saudi Authority for Government Procurement and Expenditure Efficiency. PetroApp's Founder and CEO, Abdulaziz Al Senan, stated: '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.'
Zawya
03-07-2025
- Automotive
- Zawya
PetroApp closes $50mln fund round to accelerate global expansion; IPO plans unveiled
Riyadh: Saudi digital fuel and fleet management platform PetroApp has concluded a $50 million investment round led by Jadwa Investment through its GCC Diversified Private Equity Fund. Bunat Ventures also participated in the fundraising transaction, according to a press release. The funding will accelerate PetroApp's global expansion, advance its initial public offerings (IPO) plans on the Main Market of the Saudi Exchange (Tadawul), and enhance services for retail and government clients. Abdullah Al Kasabi, Chairman of PetroApp and CEO of RZM Investment, welcomed the new investors, calling the deal a 'defining milestone' in PetroApp's institutional journey. Abdulaziz Al Senan, Founder and CEO of PetroApp, said the partnership with Jadwa and Bunat will strengthen the company's foundation and accelerate growth. '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,' Al Senan added. From the investors' side, Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, highlighted:'PetroApp marks our first investment in the software and services sector in the region.' Adding to this, Elie Al Khoury, Head of Private Equity at Jadwa Investment, said '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.' Founded in 2018, PetroApp is Saudi Arabia's first independent provider of cashless fuel and fleet management solutions. PetroApp currently serves over 500,000 vehicles and 10,000 corporate and government clients across Saudi Arabia, Egypt, Thailand, and Nigeria, operating through a network of 5,000 fuel stations, and projects revenues exceeding SAR 10 billion in 2025. The platform has expanded beyond core fuel services to include car washes, oil changes, and tire and battery replacements. PetroApp is also investing in AI-powered analytics to enable predictive maintenance and enhance operational efficiency. It is worth highlighting that PetroApp was recently appointed as an approved service provider by the Saudi Authority for Government Procurement and Expenditure Efficiency.
Zawya
02-07-2025
- Automotive
- Zawya
PetroApp secures $50mln funding round
PetroApp, the leading independent platform for digital fuel payments, fleet management, and vehicle services, today announced the successful closing of a $50 million investment round led by Jadwa Investment through its GCC Diversified Private Equity Fund, with participation from Bunat Ventures. Founded in 2018, PetroApp is Saudi Arabia's first standalone provider of cashless fuel payment and fleet management solutions, eliminating cash transactions, reducing fraud risk, and delivering real-time cost control for corporate and government fleets. The platform has since expanded to offer ancillary services; including car washes, oil changes, and tire & battery replacements, and continues to enhance its product suite with artificial intelligence to boost operational efficiency and enable predictive maintenance. Today, PetroApp serves more than 500,000 vehicles globally on behalf of over 10,000 corporate and governmental clients, operating through a network of 5,000 fuel stations across Saudi Arabia, Egypt, Thailand, and Nigeria. The company projects revenues exceeding SAR 10 billion in 2025, underscoring its commitment to pioneering technologies that reduce costs, optimize operations, and drive digital transformation in transportation and logistics. This latest financing milestone will enable PetroApp to prepare for an initial public offering on the Saudi Exchange (Tadawul), accelerate its expansion into new international markets while solidifying its presence in existing ones, broaden its offerings to the retail and government sectors, having been appointed as an approved service provider by the Saudi Authority for Government Procurement and Expenditure Efficiency and launch new, integrated vehicle management services powered by AI-driven analytics. Abdullah Al Kasabi, Chairman of PetroApp and CEO of RZM Investment, commented: 'At RZM, we invested in PetroApp in 2020, driven by our conviction in its bold mission and strong value proposition for both corporate clients and fuel station partners. Today, as Chairman, I'm 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, Founder and CEO of PetroApp, stated: '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.' Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, commented: 'PetroApp marks our first investment in the software and services sector in the region. Its impactful solution reflects the kind of innovation that supports Vision 2030's broader shift toward digitizing critical sectors across the Kingdom.' Elie El-Khoury, Head of Private Equity at Jadwa Investment, added: '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.' Khaled Zein Al Abidin, Founder and CEO of Bunat Ventures, noted, 'Our decision to back PetroApp reflects Bunat's focus on high-quality, scalable opportunities. PetroApp's diversified services and multi-market footprint position it for sustained growth, particularly as it expands into the retail and government segments.'
