- June 20, 2017
- Posted by:
- Category: FundingSMEs.com
Careem has raised $150 million in Series E funding.
Founded in 2012, Careem is an app-based car service that connects people to rides in a matter of minutes, at the tap of a button.
With the new funds, Mudassir Sheikha, Careem’s co-founder and CEO, confirmed that Careem’s valuation is now over $1 billion. The fresh funds are expected to up Careem’s game, giving Uber tougher competition amid a series of headaches at the embattled US company.
|Country||United Arab Emirates|
|Founder / CEO||Mudassir Sheikha|
|Kingdom Holding Company|
|Previous Investors||Abraaj Group|
|Arzan Venture Capital|
|El Sewedy Investments|
|Kuwait Investment Authority|
|Muna Easa Al Gurg|
|Saudi Telecom Company|
|SQM Frontier Management|