Careem is a Middle East-focused super-app operating in 70+ cities across 10 countries. Services include ride-hailing, food delivery, grocery delivery, bike-sharing, and digital payments (Careem Pay). Founded in 2012 by Mudassir Sheikha and Magnus Olsson, Careem achieved unicorn status and was acquired by Uber in January 2020 for $3.1 billion. In 2023, e& (formerly Etisalat) acquired a 50.03% stake in Careem Technologies (the non-ride-hailing super-app business) for $400 million.
Careem has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2012
Employees
1,400–6,400
Total Funding
$771.7M
6 rounds
Latest Valuation
$2B
October 18, 2018
Total raised $771.7M across 6 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Series F
Date
October 18, 2018
Amount
$200M
Valuation
$2B
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| October 18, 2018 | Series F | $200M | $2B | STV, Kingdom Holding |
| June 15, 2017 | Series E (Tranche 2) | $150M | $1.2B | Daimler, Kingdom Holding |
| December 19, 2016 | Series D / E (Tranche 1) | $350M | $1B | Rakuten, Saudi Telecom Company |
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Valuation indexed to 1.0× at the selected entry round. Valuation marks are estimates and may contain errors. Hover each dot to compare.
Entry · Series D / E (Tranche 1)
$1B
Dec 2016
Careem today
$2B
Oct 2018 · latest mark
Careem multiple
2.0x
valuation uplift since first round
Y-axis is logarithmic. Hollow dots = estimated valuations. Does not represent realized investor returns.
Mudassir Sheikha
CEO & Co-founder
Magnus Olsson
Chief Product Architect & Co-founder
Abdulla Elyas
Co-founder
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Uber
Global ride-hailing and delivery super-app; acquired Careem in 2020
Bolt
Estonian ride-hailing and micro-mobility company with aggressive presence in Africa and Middle East
Grab
Southeast Asian super-app offering ride-hailing, food delivery, and financial services
Didi Chuxing
Chinese ride-hailing company; invested in Careem; operates in North Africa
InDrive
Ride-hailing platform disrupting algorithmic pricing with peer-to-peer driver model
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