Careem Raises $3.1 Billion to Accelerate the Everything App Revolution in the Middle East

Careem, the visionary company building the Everything App for the greater Middle East, is thrilled to announce a remarkable funding milestone with an impressive raise of 3.1 billion dollars. This landmark investment underscores the unwavering confidence that investors have in Careem's innovative approach to transforming daily living across the region. Since its inception in 2012, Careem has been at the forefront of disrupting traditional mobility and lifestyle services by integrating ride-hailing, delivery, payments, and an array of other essential services into a single, user-friendly platform. Over the years, it has empowered more than 2.5 million independent ride-hailing and delivery Captains and simplified the daily routines of over 50 million customers. This growth has not only paved the way for seamless urban mobility and commerce in more than 70 cities spanning 10 countries—from Morocco to Pakistan—but also cultivated an ecosystem where the region’s top talent can thrive and ambitious entrepreneurs are given a stage for scaling their businesses. The newly raised capital will accelerate Careem’s strategic vision by expanding its service portfolio and enhancing technological capabilities to further simplify and elevate the lives of its diverse customer base. As Careem continues to evolve into a true Everything App, the funding will support deeper integration of its services, the pursuit of innovative solutions, and the expansion into new markets. Additionally, the strong backing of esteemed partners—bolstered by the April 2023 partnership with global technology investor e& (formerly Etisalat)—reinforces Careem’s commitment to building an organization that not only inspires but also creates lasting economic impact throughout the region.