Middle East ride-hailing app Careem started in 2012 with the aim to provide swift and comfortable services in order to give pick & drop to their customers. The company has succeeded in it’s aim to the great extent as it has 24 million registered users and now it is planning to spend up to $150 million to launch Careem food delivery business in September. Soon the company will start Careem food delivery business in Pakistan.
After acquiring regional online restaurant listing platform RoundMenu in February, it was trailing to start food delivery services.
Careem Plans to Start ‘Careem Food Delivery Business’ in Pakistan
According to one source with direct knowledge of the matter, Careem is in talks with investors to raise the finance to $150 in order to launch of Careem Food delivery business.
In March, it has been reported that Careem was in early talks to raise as much as $500 million from investors.
More interestingly, Careem Food delivery business will be launched first in Pakistan in September and then in the United Arab Emirates, Saudi Arabia, Egypt and other Gulf countries. So by launching Careem Food Delivery Business in Pakistan People will be facilitated more.
It will compete against already existing food delivery businesses in the region. However, it is not unveiled yet that which investors Careem were in talks with.
Careem’s investors are German carmaker Daimler, China’s largest ride-haling firm DiDi Chuxing, and Saudi Arabian billionaire Prince Alwaleed bin Talal’s Kingdom Holding.
In the Middle East, there is strong demand for food delivery especially during the months of summer in the Gulf where temperatures shoots up more than 50 degrees Celsius (122°F) in the summer. This service will no doubt give relief to the people in Middle East.