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Careem in talks to raise $150 million to launch food delivery business -source

Reuters  |  DUBAI 

By Alexander CornwellDUBAI (Reuters) - Middle East ride-hailing app Careem is in talks to raise as much as $150 million from existing investors to launch its food delivery business as early as September, according to a source with direct knowledge of the matter.Careem, the main Middle East rival of Uber Technologies, has been trialing food delivery services after announcing in February it had acquired regional online restaurant listing platform RoundMenu.The Dubai-based company will launch CareemFood in Pakistan as soon as September and then in the United Arab Emirates, Saudi Arabia, other ...

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First Published: Sun, July 08 2018. 20:40 IST