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FINANCIAL NEWS
Saudi’s Kingdom Holding acquires major share in Careem
16 Jun 2017
(MENAFN) Saudi Arabia’s Kingdom Holding has obtained a 7 percent share in Careem, a pioneering ride-hailing service in the Mideast region.
Moreover, it was done amid a secondary share buy as well as collaborating in the latest Primary Round E-1 Capital Raise reaching a total transaction value of USD62mn.
Accordingly, Careem proclaimed the second close of its Series E funding round from pioneering investors KHC and Daimler AG, the German multinational automotive financing provider.
The recent funding is an extension of the USD350mn raised in Dec last year that established Careem as a homegrown unicorn and commits new investors with huge capital resources.
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MENAFN1606201700450000ID1095562590
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