UAE tech firm eyes Moroccan expansion after acquisition

Careem Networks, a web-based chauffeur-driven car booking service, to launch ops in Rabat and Casablanca
UAE tech firm eyes Moroccan expansion after acquisition
By Staff writer
Fri 20 Mar 2015 09:34 AM

Careem Networks, a UAE-based app and web-based chauffeur-driven car booking service, has announced that it will soon enter the Moroccan market after acquiring a local company.

Careen, which serves 14 cities across the Middle East, will expand into Rabat and Casablanca initially, with Marrakech being added in the future, the company said in a statement.

The expansion comes after Careen acquired Morocco-based car booking service Taxiii's assets, bringing its founder, Yassir el Ismaili el Idrissi and all other staff onboard.

Careem was founded in Dubai in 2012, and now operates in Abu Dhabi, Bahrain, Beirut, Cairo, Dammam, Dhahran, Doha, Dubai, Jeddah, Karachi, Khobar, Kuwait, Lahore and Riyadh.

The new service, called Careem Morocco, will be the largest aggregator of privately booked cars in the country, the statement added.

Careem, which was started by Magnus Olsson and Mudassir Sheikha, former consultants at McKinsey & Company, allows customers to book a car or order it on-demand through Careem's mobile app or website.

The UAE-headquartered start-up said it is growing at more than 30 percent month-on-month and has reached a headcount of more than 70 after only two and a half years of operations.

Selim Turki head of new products at Careem, said: "We have had our sights on Morocco for sometime and what better way to enter the market than to bring the most successful local player on board with us."

The new Careem Morocco will begin its service on March 26 in Casablanca.

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