Latest news with #fuelmanagement
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
01-07-2025
- Automotive
- Zawya
Jadwa leads $50mln investment round in PetroApp
Saudi Arabia - Jadwa Investment has led a $50 million investment round in PetroApp, Saudi Arabia's leading fuel management platform. Founded in 2018, PetroApp is Saudi Arabia's first independent provider of digital fuel payment and fleet management solutions. The platform enables access to ancillary services such as car washes, oil changes, tire and battery replacements, and eliminates cash transactions, reducing fraud, and improving cost control for corporate and government fleets. PetroApp manages over 500,000 vehicles for 10,000+ corporate clients across Saudi Arabia, Egypt, Thailand, and Nigeria. The transaction marks Jadwa's fifth investment under its Jadwa GCC Diversified Private Equity Fund, launched in late 2024. The fund's acquisition of a majority stake in Makhazen Alenaya, a market leader in Saudi Arabia's beauty and personal care retail sector, highlights Jadwa's active pipeline across high-growth verticals. Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, commented: '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 Investment, 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, emphasized the significance of this investment round, describing it as a turning point for the company. He stated: '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, expressed his enthusiasm about the deal, saying: '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.'
Zawya
01-07-2025
- Automotive
- Zawya
Jadwa leads a $50mln investment round in PetroApp
Riyadh, Saudi Arabia: Jadwa Investment, a leading investment management and advisory firm in the Middle East, today announced it has led a USD 50 million investment round in PetroApp, Saudi Arabia's leading fuel management platform, through its flagship blind-pool vehicle, Jadwa GCC Diversified Private Equity Fund. Bunat Ventures, a regional venture capital firm, also participated in the round. Founded in 2018, PetroApp is Saudi Arabia's first independent provider of digital fuel payment and fleet management solutions. It is transforming vehicle operations by eliminating cash transactions, reducing fraud, and improving cost control for corporate and government fleets. Beyond fuel, PetroApp also enables access to ancillary services—such as car washes, oil changes, tire and battery replacements—via a seamless, fully cashless platform. Today, PetroApp manages over 500,000 vehicles for 10,000+ corporate clients through a network of more than 5,000 fuel stations across Saudi Arabia, Egypt, Thailand, and Nigeria, as the company continues its international expansion. It was recently accredited by the Expenditure and Projects Efficiency Authority (EXPRO) as a qualified provider for government sector services and is preparing to launch its retail offering in the Kingdom, unlocking significant avenues for growth. This transaction marks Jadwa's fifth investment under its Jadwa GCC Diversified Private Equity Fund, launched in late 2024. It follows the fund's recent landmark acquisition of a majority stake in Makhazen Alenaya, a market leader in Saudi Arabia's beauty and personal care retail sector, highlighting Jadwa's active pipeline across high-growth verticals. Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, commented: '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 Investment, 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, emphasized the significance of this investment round, describing it as a turning point for the company. He stated: '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, expressed his enthusiasm about the deal, saying: '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.' About Jadwa Investment Jadwa Investment is a Riyadh-headquartered investment management and advisory firm with more than SAR 100 billion (USD 30 billion) in client assets across public equity, private equity, real estate, private credit, fixed income, and money market investments. Its clients include government-related entities, local and international institutional investors, prominent family offices, and high-net-worth individuals. Jadwa Investment is licensed by the Capital Market Authority of Saudi Arabia (CMA) as a capital market institution, with registration number 06034-37. Source: AETOSWire Contacts Randa Khair media@
Yahoo
30-06-2025
- Business
- Yahoo
Jadwa Leads a USD 50 Million Investment Round in PetroApp
RIYADH, Saudi Arabia, June 30, 2025--(BUSINESS WIRE)--Jadwa Investment, a leading investment management and advisory firm in the Middle East, today announced it has led a USD 50 million investment round in PetroApp, Saudi Arabia's leading fuel management platform, through its flagship blind-pool vehicle, Jadwa GCC Diversified Private Equity Fund. Bunat Ventures, a regional venture capital firm, also participated in the round. Founded in 2018, PetroApp is Saudi Arabia's first independent provider of digital fuel payment and fleet management solutions. It is transforming vehicle operations by eliminating cash transactions, reducing fraud, and improving cost control for corporate and government fleets. Beyond fuel, PetroApp also enables access to ancillary services—such as car washes, oil changes, tire and battery replacements—via a seamless, fully cashless platform. Today, PetroApp manages over 500,000 vehicles for 10,000+ corporate clients through a network of more than 5,000 fuel stations across Saudi Arabia, Egypt, Thailand, and Nigeria, as the company continues its international expansion. It was recently accredited by the Expenditure and Projects Efficiency Authority (EXPRO) as a qualified provider for government sector services and is preparing to launch its retail offering in the Kingdom, unlocking significant avenues for growth. This transaction marks Jadwa's fifth investment under its Jadwa GCC Diversified Private Equity Fund, launched in late 2024. It follows the fund's recent landmark acquisition of a majority stake in Makhazen Alenaya, a market leader in Saudi Arabia's beauty and personal care retail sector, highlighting Jadwa's active pipeline across high-growth verticals. Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, commented: "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 Investment, 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, emphasized the significance of this investment round, describing it as a turning point for the company. He stated: "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, expressed his enthusiasm about the deal, saying: "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." About Jadwa Investment Jadwa Investment is a Riyadh-headquartered investment management and advisory firm with more than SAR 100 billion (USD 30 billion) in client assets across public equity, private equity, real estate, private credit, fixed income, and money market investments. Its clients include government-related entities, local and international institutional investors, prominent family offices, and high-net-worth individuals. Jadwa Investment is licensed by the Capital Market Authority of Saudi Arabia (CMA) as a capital market institution, with registration number 06034-37. Source: AETOSWire View source version on Contacts Randa Khair+966112791111media@
Trade Arabia
03-06-2025
- Business
- Trade Arabia
GOL, TAP Adopt IATA FuelIS to deliver fuel savings
GOL and TAP Air Portugal have become the first airlines to use IATA FuelIS — an advanced analytics solution designed to help airlines optimise fuel consumption. International Air Transport Association's (IATA) net-zero carbon emissions roadmap highlights that technology and operational efficiency improvements — which directly lower fuel consumption — are expected to contribute to about 10% of the emissions reduction in 2050. "Fuel management is key for airlines. Depending on the prevailing price of jet fuel, it generally accounts for 25-30% of the cost base. On top of that, as airlines decarbonise, tracking and managing carbon costs—which are directly related to fuel consumption—will be a growing priority. Understanding how an airline is performing compared with industry peers using FuelIS can pinpoint potential efficiencies that reduce costs and improve environmental performance. The great support from 220 airlines contributing operational data on fuel consumption combined with continuously improving analytical capabilities makes FuelIS a very compelling tool,' said Nick Careen, IATA Senior Vice President Operations, Safety and Security. Data Accuracy and Reliability IATA FuelIS helps airlines benchmark the fuel efficiency of their aircraft or engines against industry averages, gaining valuable insights into specific markets, regions, countries, and fleet types based on real operational data. IATA FuelIS uses data from the IATA Global Aviation Data Management (GADM) platform. This data is sourced from the Flight Data eXchange (FDX) program which now comprises fuel data from more than 220 airlines worldwide, covering more than 8 million flights a year. FuelIS integrates seamlessly with IATA's Fuel Efficiency Gap Analysis (FEGA), with the data from FuelIS supporting the development and tracking of fuel strategies. Since 2005, IATA has partnered with airlines worldwide, helping the industry identify potential annual reductions of 4.76 million tonnes in fuel consumption, equating to $3.8 billion in savings annually. 'Fuel is a major cost driver for TAP Air Portugal. Managing consumption is an important priority for its cost implications and its contribution to decarbonization. Every kilogram of fuel saved counts. The insights FuelIS provides help us measure the impact of our fleet modernization and our long-term transition to SAF. It also supports a fuel strategy that is more responsive to market and operational changes,' said TAP Air Portugal CEO Luís Rodrigues.
