Careem Expansion Continues Apace With Milestone 50 Destinations now Serviced Across the MENASA Region

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Careem Expansion Continues Apace With Milestone 50 Destinations now Serviced Across the MENASA Region

Dubai, UAE, January 18, 2017 - Continuing its development program, Careem, the region's leading ride-hailing service, has currently increased to greater than 50 cities across the wider MENASA (Middle East, North Africa and South Asia) region, consisting of Turkey and three new cities in Pakistan.

Mudassir Sheikha, Co founder and Chief Executive Officer of Careem, said, "Our main emphasis is to widen and strengthen our visibility throughout the larger region, which begins the rear of Careem's remarkable development in the previous four years. Testament to our continued development and aspirations for further growth is the current USD 350 million tranche of financial investment in our company, making Careem among the few tech unicorns in the center East and North Africa. Currently operational in greater than 50 cities within 4 years since releasing, Careem will certainly harness this milestone accomplishment as a springboard to additional development in 2017.".

Careem already runs in funding Islamabad and in Pakistan's 2 most populated cities -Karachi and Lahore and will currently consist of Peshawar, Faisalabad and Hyderabad where Careem will launch the Economic climate car key in Hyderabad and Peshawar, and Business in Faisalabad.

" Pakistan is an essential strategic market for Careem and one where our convenient, economical transportation choices have a substantial impact on individuals's lives. Along with proclaiming a new age of mobility for customers, our access right into these dynamic cities will promote brand-new opportunities for employment and entrepreneurship, equipping local residents to be economically independent," Sheikha added.

Careem users in Peshawar, Hyderabad and Faisalabad will have accessibility to finish details on their Captains that own them around the destination, together with access to a 24x7, committed phone call facility manned by a multi-lingual group of 200 staff members.

Last month, Careem announced a site financing round of USD 500 million in the company with USD 350 million currently secured from new and current financiers. Co-led by Rakuten, Inc., a global leader in internet services and innovation locateded in Japan, and Saudi Telecom Company (" STC"), the largest telecommunications driver Middle East, the fundraise, supported by Credit Suisse, is just one of the largest for a technology company in the center East's background. The financial investment will scale up Careem's transport services in existing and new markets, increase innovation throughout its platform of high-frequency deals, and aid Careem attain its objective of creating one million tasks in the region by 2018.