ISLAMABAD The Middle-East based taxi-hailing company is going to start afood delivery business in Pakistan and Middle East and in order to do sothe company is in talks with investors to raise up to $150 million tolaunch the service.
Started in 2012 with an aim to provide swift and comfortable pick and dropservice to passengers, Careem has successfully achieved 24 millionregistered users across the world. Not only in Middle-East, theride-hailing service has also become a popular travelling trend in Pakistanas well. Seeing its success in the country, now the company plans toinitiate food delivery business in Pakistan in September this year.
More interestingly, Careem Food delivery business will be launched first inPakistan in September and then in the United Arab Emirates, Saudi Arabia,Egypt and other Gulf countries. So this will ultimately facilitatePakistani user more as compared to other countries.
According to sources, the company has already acquired online restaurantlisting platform RoadMenu in February. Now, it seems like the service willcompete with already present food delivery services in Pakitan and willgive them a tough competition. It is still not clear that which investorsare planning to invest in Careem food delivery service. Whereas, Careem’sinvestors include German carmaker Daimler, China’s largest ride-haling firmDiDi Chuxing, and Saudi Arabian billionaire Prince Alwaleed bin Talal’sKingdom Holding.
In a country like Pakistan where people spend a big chunk of their incomeon food, this seems like a big opportunity for Careem to tap into. Duringthe months of summer when temperature shoots up than 40 degrees Celsius,this service will no doubt give relief to people in Pakistan.