King & Spalding Advises PetroApp on Investment Round Led by Jadwa Investment

King & Spalding has advised PetroApp, Saudi Arabia’s leading digital fuel and fleet management platform, on its $50 million investment round. The round was led by Jadwa Investment, a premier investment management and advisory firm in the Middle East, through its flagship blind-pool vehicle, the Jadwa GCC Diversified Private Equity Fund. Bunat Ventures, a regional venture capital firm, also participated in the round.

PetroApp is the Kingdom’s first independent provider of digital fuel payment and vehicle operations technology. The company is transforming vehicle operations by eliminating cash transactions, reducing fraud, and enabling real-time control over fuel spending. PetroApp currently manages over 500,000 vehicles for more than 10,000 corporate clients, operating across a network of 5,000+ fuel stations in Saudi Arabia, Egypt, Thailand, and Nigeria. A cross-border team from King & Spalding’s Dubai, Riyadh, London, and Geneva offices advised PetroApp on the transaction.

The team was led by partner Macky O’Sullivan (Dubai), with support from Jonathan Ivinson (Geneva), James Stull (Dubai), Haifa Bahaian (Riyadh), Michael Langan (London), Mohammed Basama (Dubai), and Husni Al Far (Dubai).