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Careem increases its capital to $350m in December, backed by Elsewedy Electric - Daily News Egypt

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Careem increases its capital to $350m in December, backed by Elsewedy Electric

The company has 50,000 drivers in Egypt and works in 52 cities around the world, El-Fakharany says

Wael Fakharany, managing director of online cab-booking application Careem Egypt, said that his company currently has 50,000 drivers in more than six cities.

He added that Careem had increased its capital by the end of December to reach $350m, with investments co-injected by Elsewedy Electric and some Egyptian and Arab funds.

Fakharany said that the company developed its fare system, as it replaced Engzni and other economical systems with “Go,” whose fare starts from EGP 4.5 with EGP 1.8 per km and waiting charges of EGP 32 per hour. Careem also replaced its business system with “Go Plus,” whose fare starts from EGP 6 with EGP 2.1 per km and waiting charges of EGP 42 per hour.

Fakharany continued that the company now has 100 employees in its Egyptian headquarters, in addition to 300 employees in the call centre, which serves the Middle East region. He pointed out that, during this week, Careem has expanded its services to new cities, including Zagazig and Mahala, bringing the total number of cities covered worldwide by Careem to 52, from Pakistani to Moroccan cities.

He revealed that the company aims to increase the number of its employees in the call centre to reach 1,000 by the end of this year.

Careem has signed a number of protocols with the Ministry of Social Solidarity, the Ministry of Youth and Sports, and the Addiction Treatment and Abuse Fund to facilitate the workflow of the company.

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