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

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.