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Kingdom Holding Company Co-leads a Capital Increase of $ 200 million in Careem as one of the largest shareholders with other investors

October 18, 2018

Kingdom Holding Company (KHC) chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Co-leads a Capital increase of $ 200 million in Careem as one of the largest shareholders with other investors.

 

The investment in Careem is a continuation of the company’s strategy to invest in new promising technologies as it recently did with its recent investments in the French company Deezer, and doubling its stake in the US company Lyft, in addition to its investments in both Twitter and JD.com.

 

Kingdom Holding Company acquired 7% of Careem in a deal worth $62 million in 2017.

 

About Careem:

Careem is the leading technology platform for the greater Middle East. A pioneer of the region’s ride-hailing economy, Careem is expanding services across its platform to include payments, delivery and mass transportation. Careem’s mission is to simplify and improve the lives of people and to build a lasting enterprise that inspires. Established in July 2012, Careem operates in more than 120 cities across 15 countries and has created more than one million job opportunities in the region.