Careem Secures $350 Million in Funding to Accelerate Growth of Everything App Across the Middle East

In an exciting development for the region’s tech landscape, Careem has successfully raised $350 million in funding to further enhance its mission of becoming the Everything App for the greater Middle East. Founded in 2012, Careem has made a significant impact by simplifying lives, facilitating convenient transport, enabling food and grocery delivery, and streamlining payment processes for millions. With the ambitious goal of enhancing daily life across over 70 cities in 10 countries, from Morocco to Pakistan, Careem is committed to building a platform that empowers both users and entrepreneurs alike. Since its inception, the company has created substantial economic opportunities, generating earnings for over 2.5 million Captains, while serving a customer base of over 50 million. The latest funding round sees the backing of the global technology investment firm e& (formerly Etisalat), following their partnership established in April 2023 focusing on the Careem Everything App. This investment will be pivotal in accelerating the development of Careem's innovative services, enabling it to further refine functionality and expand its offerings to meet the evolving needs of its vast user base. As Careem continues to lead the charge in the region's digital transformation, this infusion of capital affirms investor confidence in both the company’s vision and its ability to inspire growth, technological advancement, and improved lifestyles across the Middle East. With plans set in motion, Careem is poised to redefine convenience in the region and continues to pave the way for a brighter, tech-driven future.