About Careem
Careem is a company based in Dubai (United Arab Emirates) founded in 2012 by Magnus Olsson and Abdulla Elyas was acquired by e& in April 2023.. Careem has raised $771.7 million across 7 funding rounds from investors including Uber, Didi and Rakuten. Careem has completed 6 acquisitions, including Commut, Cyacle Bikeshare and Delivery Chacha. Careem operates in a competitive market with competitors including Uber, Gett, Dubai Taxi Corporation, Jeeny and Baly, among others.
- Headquarter Dubai, United Arab Emirates
- Founders Magnus Olsson, Abdulla Elyas
- Stage Unicorn
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Sectors
Transportation, Automotive & Logistics
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Email
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Phone
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Website
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Social
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Funding Insights of Careem
Careem has successfully raised a total of $771.7M across 7 strategic funding rounds. The most recent funding activity was a Series F round of $200 million completed in October 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Series F — $200.0M
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First Round
First Round
(09 Sep 2013)
- Investors Count 19
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2018 | Amount | Series F - Careem | Valuation | STV | |
| Aug, 2017 | Amount | Series E - Careem | Valuation | Didi |
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| Jun, 2017 | Amount | Series E - Careem | Valuation | Kingdom Holding Company |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Careem
Careem has secured backing from 21 investors, including venture fund and institutional investors. Prominent investors backing the company include Uber, Didi and Rakuten. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private investment holding company focusing on a diversified portfolio of business
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Founded Year | Domain | Location | |
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Growth equity is provided for early-stage tech startups by STV.
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Founded Year | Domain | Location | |
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Tech-focused seed, early, and mid-stage VC investments are made globally.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Careem
Careem has strategically engaged in corporate development activities, having acquired 6 companies. Notable acquisitions include Commut, Cyacle Bikeshare and Delivery Chacha. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Mini bus aggregator app
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2015 | ||||
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Short-term bicycle rentals are offered from stations in Abu Dhabi.
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2015 | ||||
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Concierge delivery service
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2014 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Careem
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Careem Comparisons
Competitors of Careem
Careem operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Uber, Gett, Dubai Taxi Corporation, Jeeny and Baly, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
An online platform providing ride-hailing and food delivery services
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| domain | founded_year | HQ Location |
Rides are hailed through an app-based platform.
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| domain | founded_year | HQ Location |
Operates an app-based ride-hailing platform for efficient urban transportation.
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| domain | founded_year | HQ Location |
Ride-hailing services are enabled through an online booking platform.
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| domain | founded_year | HQ Location |
App-based platform offering ride-hailing and on-demand delivery services
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Careem
Frequently Asked Questions about Careem
When was Careem founded?
Careem was founded in 2012 and raised its 1st funding round 1 year after it was founded.
Where is Careem located?
Careem is headquartered in Dubai, United Arab Emirates. It is registered at Dubai, Dubai, United Arab Emirates.
Is Careem a funded company?
Careem is a funded company, having raised a total of $771.7M across 7 funding rounds to date. The company's 1st funding round was a Series E of $150M, raised on Sep 09, 2013.
What does Careem do?
An app-based ride-hailing aggregator was founded in 2012 in Dubai, United Arab Emirates. Operations center on enabling users to book rides by submitting location, passenger, and payment details. Additional services include food delivery, mobile recharges, and grocery deliveries. Platforms are available for Android and iOS devices, serving users across the region in the mobility and logistics sector.
How many acquisitions has Careem made?
Careem has made 6 acquisitions, including Commut, Cyacle Bikeshare, and Delivery Chacha.
Who are Careem's investors?
Careem has 21 investors. Key investors include Uber, Didi, Rakuten, Saudi Telecom, and Mercedes-Benz.
What is Careem's valuation?
The valuation of Careem is $1.2B as of Jun 2017.
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