Careem acquires Pakistani ride sharing service

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Careem acquires Savaree
Two minds will be better than one when
it comes to battling Uber. (Image via Careem)

Car-hailing app Careem has acquired Lahore-based car share and cab booking service Savaree.

The cost of the acquisition is undisclosed. In November 2015 the Dubai-based business raised a $60 million Series C round, which they said  they planned to invest in its core MENA markets as well as Pakistan.

Founded by Madeeha Hassan in 2014, Savaree has grown quickly to became a popular car pooling and hailing service across Lahore. Careem came to Pakistan in April 2015 and now operates in Lahore, Karachi with recent expansion to Islamabad.

Joining the Careem team is a turnaround for the Savaree founder. Back in December 2015 a post written by Hassan for Wamda stated her reluctance for taking on such a role as she strove to build a business to rival the likes of Uber and Careem.

Junaid Iqbal, Careem’s CEO for Pakistan, told Tech in Asia: “We have acquired Savaree for the talent and immense local knowledge it brings along”. Hassan will be joining Careem’s global product team as the product lead for Pakistan.

As part of a $250 million expansion plan for MENA, the now remaining rival, Uber, launched in Pakistan at the start of March.

Careem has been making several acquisitions in the past 15 months. In January 2015 they acquired Saudi’s home delivery service Enwani, then in the March they acquired Morocco’s Taxiii.  

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