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"Karim" raises $ 500 million funding round one

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"Karim" raises $ 500 million funding round one

Post by RamblerNash on Sat Oct 20, 2018 10:12 am

"Karim" raises $ 500 million funding round one

Twilight News

3 hours ago

$ 200 million was raised from the first phase of the F-round financing round.

Major current investors: Al Tayyar Group, Kingdom Holding Company, Rakotin Company and STV The new financing will be pumped to accelerate the growth of Karim's Internet platform in the region

Karim, the leading Internet platform in the Middle East, has announced that it has secured $ 200 million in funding from existing investors in the first phase of a new financing round that is expected to exceed $ 500 million. Including payment, delivery and mass transit services to further improve the quality of life of people in the region

"Internet-enabled services have a profound and positive impact in the region, where there are untapped opportunities in the online consumer market," said Madthar Sheikha, CEO and co-founder of Karim. 120 cities, Careem is uniquely positioned to capitalize on this opportunity by expanding into new sectors. "We are delighted and grateful that our current investors will be the first to be interested in this financing round that supports our vision."

Kareem launched a mass transit service in Egypt in October this year, and in February it acquired Rundemino in Dubai to expand its food delivery services.


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