Year established 2012
The ride-hailing service quickly grew into one of the region’s most successful companies, evolving into a transportation network company. It was co-founded by former McKinsey & Company management consultants Mudassir Sheikha and Magnus Olsson, before Abdulla Elyas joined in 2012 after the pair acquired his Saudi-based home delivery firm Enwani. This month, Careem also acquired RoundMenu to begin trialling food delivery services through the online restaurant and reservation platform. In July, the firm also took a majority stake in a Cairo-based tech start-up that connects customers with private buses.