Careem, a private car booking service, connects riders with safe, reliable, convenient transportation providers at a variety of price-points in cities around the world.
Founded in 2012 by Mudassir Sheikha and Magnus Olsson – Careem started in Dubai and has since grown to 22 cities across the Middle East, North Africa and Asia. In its latest round of funding, Careem raised over 60 million dollars to fuel its rapid growth across the Gulf and the Middle East.
Abdulla Elyas joined Magnus and Sheikha as the third co-founder in the summer of 2014. Elyas was the founder of Enwani in KSA. Enwani set out to be an address mapping website and application aimed at solving the problem of map and address inaccuracy in Saudi Arabia.
In Nov 2015, Careem raised $60 million in Series C funding, led by The Abraaj Group. Careem plans to use the funds to invest in its core MENA markets as well as Pakistan. Careem competes head-to-head with Uber in the region. However, Careem mentioned at the time of fund raise, that for the last three years it had seen strong growth month-on-month of over 30 percent in core markets of the UAE, Saudi Arabia and Egypt.