- General
- October 18, 2018
- 3 minutes read
Careem raises $200 million Series F round
Careem co-founder and CPO Abdulla Elyas image : Careem Following reports of an acquisition interest by Uber and several other…
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| Careem co-founder and CPO Abdulla Elyas
image : Careem
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Following reports of an acquisition interest by Uber and several other speculations, Dubai based ridesharing firm Careem has raised $200 million in new funding from existing investors including Saudi Arabian businessman Alwaleed’s Kingdom Holding which previously led a $150 million round for the company last year.
This $200 million is part of a round expected to raise over $500 million as per Careem. Other investors in this round include Rakuten, STV and the Al Tayyar Group. The valuation for this round is currently unknown although Careem was valued at $1.2 billion from its most previous funding round.
Careem is available in 14 countries and over 100 cities in total, It’s the leading ride-hailing app in the Middle East and North Africa regions and also Turkey and Pakistan. It counts over 15 million users and more than 975 thousand drivers on its app.
The company has also now raised nearly $800 million in total with other notable investors including Coatue Management, Didi Chuxing, Lumia Capital, Endure Capital, DCM Ventures and several other firms.
