Wednesday 28 March 2018

Exclusive: Mideast Uber rival Careem in early talks to raise new funds - sources

Exclusive: Mideast Uber rival Careem in early talks to raise new funds - sources:

"Middle East ride-hailing app Careem is in early talks to raise as much as $500 million in new funds from investors, sources told Reuters.

Careem, Uber’s [UBER.UL] rival in the region, is checking the appetite of potential investors and hopes to secure its targeted $500 million in a new funding series, three sources said, speaking on condition of anonymity as the matter is not public.

Careem declined to comment when contacted by Reuters on Wednesday. "



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