Careem is looking to raise up to $200 million from Chinese investors

Middle East’s ride-hailing startup and Uber’s rival, Careem is looking to raise between $100 million and $200 million from Chinese investors, according to a source with direct knowledge who mentioned it to Reuters.

The anonymous source also mentioned that Investment bank China International Capital Corporation (CICC) has been advising Careem, but there weren’t any indications when the deal is going to be finished. They also added the Chinese investors didn’t seem familiar or interested in Middle Eastern startups.

For more information, read here.

Bahrain-based digital platform and publication for startups in the Middle East. Exclusive events, in-depth workshops, insightful content, and informative news. In strategic partnership with Tamkeen Bahrain, Zain Bahrain, National Bank of Bahrain, Zoho, Tenmou, and StartUp Bahrain.

Startup MGZN © 2020. All Rights Reserved.