Rakuten and Saudi Telecom led the first close of what ride ordering service Careem hopes will be a $500m round, with existing backer Al Tayyar also participating.
United Arab Emirates-based ride hailing platform Careem closed the first tranche of a $500m round co-led by e-commerce firm Rakuten and telecommunications group Saudi Telecom at $350m yesterday.
Travel agency Al Tayyar Group, Abraaj Group, Beco Capital, El Sewedy Investments, Endure Capital, Lumia Capital, SQM Frontier and Wamda Capital also took part.
Saudi Telecom invested $100m as part of the round, which values Careem at $1bn according to a regulatory filing. Oskar Mielczarek de la Miel, who heads up…
