Uber in talks to bring new investors to support Careem’s expansion: Sources

Logo of Uber and Careem

Uber Technologies is in talks with the management of its Middle East unit Careem to bring outside investors into the business, Reuters reported, citing four sources familiar with the matter.

The investment will help finance the further roll-out of Careem's “Super App”, which offers services outside its core ride-hailing business such as food delivery, digital payments and courier services.

Careem's ownership structure following the planned investment was not immediately clear. Uber will remain a shareholder, giving Careem's management greater decision-making power over its strategy, according to the sources.

Eventually, the new Careem business could be listed, said a source.

In March 2019, Uber completed the acquisition of Careem in a deal worth $3.1 billion, Argaam reported.