Careem Inc.’s $ 350 million Series E fundraising

Conyers Dill & Pearman acted as British Virgin Islands legal counsel to BVI-incorporated Dubai-based ride-sharing platform Careem Inc. on its successful US$ 350 million Series E fundraising from Rakuten, Inc. of Japan, Saudi Telecom Company and other private equity and venture capital investors.

Careem Networks FZ LLC provides private car booking services. The company enables customers to order a car online; or using its mobile application, allows customers to track their rides in real-time, pay with credit cards, and access receipts online.

The deal values Careem at over US$1 billion, making it the region’s second tech start-up to achieve the coveted ‘unicorn’ status.

Oliver J. Simpson (Picture) in our Dubai office represented Careem Inc.

Involved fees earner: Oliver Simpson – Conyers Dill & Pearman;

Law Firms: Conyers Dill & Pearman;

Clients: Careem Networks FZ LLC;


Author: Michael Patrini.