Careem is a Dubai-based Middle East super-app offering ride-hailing, food and grocery delivery, bike-sharing and digital payments (Careem Pay). Founded in 2012 by Mudassir Sheikha, Magnus Olsson and Abdulla Elyas, it was acquired by Uber for $3.1 billion in January 2020. In 2023 its non-ride-hailing business was spun out as Careem Technologies with e& taking a majority stake for $400 million; Uber regained a controlling interest in July 2026. Careem exited ride-hailing in Pakistan in 2025 and cut jobs across several markets in 2026.
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
1,001–5,000
Total Funding
$771.7M
6 rounds
Latest Valuation
$2B
Oct 18, 2018
Closed Berlin engineering office and cut jobs across UAE, Jordan, Egypt and Pakistan, largest restructuring since 2020's 31% layoff.
Signals continued regional cost-cutting; negative near-term sentiment for holders
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Total raised $771.7M across 6 rounds
Last updated 09-29-2026
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Oct 18, 2018 | Series F CNBC | $200M | $2B | STV, Kingdom Holding |
| Jun 15, 2017 | Series E (Tranche 2) | $150M | $1.2B | Daimler, Kingdom Holding |
| Dec 19, 2016 | Series D / E (Tranche 1) TechCrunch | $350M | $1B | Rakuten, Saudi Telecom Company |
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
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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