News

e& To Become A Major Stakeholder In The Careem Super App

e& will invest $400 million into the Careem Super App, in line with plans to transform the brand into a global technology and investments group.

Published

2 years ago

April 10, 2023

Nour Nasir

Careem

e& has announced a new $400 million deal with Uber, and its local subsidiary Careem. The technology and investment group will acquire a majority stake in the Careem Super App, though the ride-hailing service will remain in Uber’s ownership and continue to offer its existing food delivery, micro-mobility, and fintech services to customers across the MENA region.

“We are excited to bring e& into the family. Their passion for uplifting the region and the synergies across their portfolio is extremely valuable. With two strong partners in e& and Uber, I have no doubt that we will build the preeminent technology platform of the region,” says Mudassir Sheikha, Careem CEO, and co-founder.

Careem will use the investment to expand core services and the Careem Plus subscription program, with the aim of becoming North Africa and the Middle East’s “everything app”.

Careem expects significant benefits from the e& partnership, including access to a customer base of 163 million subscribers across 16 countries. The investment will also unlock e&’s extensive experience in scaling complex tech ventures into new regions.

Also Read: A Guide To Digital Payment Methods In The Middle East

“The shared vision between e& and Careem is exciting, and we believe that together we’ll be able to enhance our impact across different markets in the region while pushing the boundaries of customer experience,” says e& Group CEO Hatem Dowidar.

Since being acquired by Uber in 2020, Careem has evolved into a multi-service app offering more than 12 individual services. Since the COVID-19 pandemic, UAE food delivery subsidiary Quik has grown 46X, with orders increasing by 86%. Meanwhile, micro-mobility service Careem Bike saw gains of 61%, while the company also brought new third-party services under its umbrella, including rental cars, spas, and laundry services.

Completion of the latest deal with e& will see even more comprehensive services offered, though the investment is still subject to regulatory approval and other administrative procedures.

News

Rabbit Expands Hyperlocal Delivery Service In Saudi Arabia

The e-commerce startup is aiming to tap into the Kingdom’s underdeveloped e-grocery sector with a tech-first, locally rooted strategy.

Published

1 hour ago

April 7, 2025

Nour Nasir

Rabbit

Rabbit, an Egyptian-born hyperlocal e-commerce startup, is expanding into the Saudi Arabian market, setting its sights on delivering 20 million items across major cities by 2026.

The company, founded in 2021, is already operational in the Kingdom, with its regional headquarters now open in Riyadh and an established network of strategically located fulfillment centers — commonly known as “dark stores” — across the capital.

The timing is strategic: Saudi Arabia’s online grocery transactions currently sit at 1.3%, notably behind the UAE (5.3%) and the United States (4.8%). With the Kingdom’s food and grocery market estimated at $60 billion, even a modest increase in online adoption could create a multi-billion-dollar opportunity.

Rabbit also sees a clear alignment between its business goals and Saudi Arabia’s Vision 2030, which aims to boost retail sector innovation, support small and medium-sized enterprises, attract foreign investment, and develop a robust digital economy.

The company’s e-commerce model is based on speed and efficiency. Delivery of anything from groceries and snacks to cosmetics and household staples is promised in 20 minutes or less, facilitated by a tightly optimized logistics system — a crucial component in a sector where profit margins and delivery expectations are razor-thin.

Despite the challenges, Rabbit has already found its stride in Egypt. In just over three years, the app has been used by 1.4 million customers to deliver more than 40 million items. Revenue has surged, growing more than eightfold in the past two years alone.

Also Read: Top E-Commerce Websites In The Middle East In 2025

CEO and Co-Founder Ahmad Yousry commented: “We are delighted to announce Rabbit’s expansion into the Kingdom. We pride ourselves on being a hyperlocal company, bringing our bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households, and delivering the best products – especially local favorites, in just 20 minutes”.

The company’s growth strategy avoids the pitfalls of over-reliance on aggressive discounting. Instead, Rabbit leans on operational efficiency, customer retention, and smart scaling. The approach is paying off, having already attracted major investment from the likes of Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital, alongside earlier investors such as Global Founders Capital, Goodwater Capital, and Hub71.