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Deals & Transactions

Careem Inc. achieves unicorn status with US$350 million Series E fundraising

December 2016

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.

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 in our Dubai office represented Careem Inc.

 

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