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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People of Careem
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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.
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.
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Private investment holding company focusing on a diversified portfolio of business
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Growth equity is provided for early-stage tech startups by STV.
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Tech-focused seed, early, and mid-stage VC investments are made globally.
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Investor details for Careem
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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.
Investment portfolio details for Careem
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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Mini bus aggregator app
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Short-term bicycle rentals are offered from stations in Abu Dhabi.
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Concierge delivery service
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Locked | Locked | 2014 | Locked |
Complete acquisition details for Careem
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Financial Statements - Careem
Detailed financials for Careem
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Careem Comparisons
Peer comparison for Careem
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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.
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An online platform providing ride-hailing and food delivery services
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Rides are hailed through an app-based platform.
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Operates an app-based ride-hailing platform for efficient urban transportation.
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Ride-hailing services are enabled through an online booking platform.
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App-based platform offering ride-hailing and on-demand delivery services
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Detailed competitors of Careem
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Latest news on Careem
Complete news archive for Careem
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Frequently Asked Questions about Careem
Careem was founded in 2012 and raised its 1st funding round 1 year after it was founded.
Careem is headquartered in Dubai, United Arab Emirates. It is registered at Dubai, Dubai, United Arab Emirates.
Careem is a funded company, having raised a total of $771.7M across 7 funding rounds to date.
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.
Careem has made 6 acquisitions, including Commut, Cyacle Bikeshare, and Delivery Chacha.
Careem has 21 investors. Key investors include Uber, Didi, Rakuten, Saudi Telecom, and Mercedes-Benz.
The valuation of Careem is $1.2B as of Jun 2017.