Careem is now going to start a food delivery business in Pakistan and Middle-East. The company is in talks with investors to raise up to $150 million in order to launch the service.
Careem as we all know started in 2012 with a goal to provide easy and comfortable pick and drop service to passengers, Careem has successfully attained 24 million registered users across the world. Not only in Middle-East, it has also become a popular travelling style in Pakistan as well. After seeing its success in the country, now the company plans to start food delivery business in Pakistan in September this year.
First the company is planning to launch first in Pakistan which is in September and then in the United Arab Emirates, Saudi Arabia, Egypt and other Gulf countries.
According to sources, the company has already attained online restaurant listing platform RoadMenu in February. Now, it looks like the company has to compete with already present food delivery services in Pakistan which are actively working and Careem is surely going to give a tough competition to all its competitors. It is still not clear that which investors are planning to invest in Careem food delivery service. Whereas, Careem’s investors include German carmaker Daimler, China’s largest ride-haling firm DiDi Chuxing, and Saudi Arabian billionaire Prince Alwaleed bin Talal’s Kingdom Holding.
In a country like Pakistan where people spend almost half of their income on food, this seems like a big opportunity for Careem for stepping into this new service. Let’s see how this new service turns out.