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Wireless

Careem obtains another USD 200 mln to expand and expects more funds

Saturday 20 October 2018 | 16:52 CET | News
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Middle East ride-hailing company Careem said it had secured USD 200 million more funding from existing investors and that it expects to raise more to finance expansion plans, Reuters reported. Careem was estimated to be worth around USD 1 billion as of December 2016. One source close to the deal told Reuters the latest investment, combined with previous fund raising and expansion into new segments and markets, gave the company an estimated valuation of over USD 2 billion.

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Categories: Mobile & Wireless
Companies: Careem / Rakuten Mobile
Countries: United Arab Emirates
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