Careem announces alliance with China’s Yidao Yongche

Dubai-based service Careem has recently announced that it will partner with China’s car hailing service Yidao Yongche and share resources, according to a recent Bloomberg report.Careem2

The report noted that the two companies will use London-based startup Splyt Technologies to coordinate their fleets and payments. The alliance will allow passengers traveling abroad avail and pay for a ride service using only one application.

Founded in 2012, Careem has expanded to 50 cities in the Middle East, North Africa and South Asia. It has a strong growth force, has raised more than $350 million from investors including Japanese e-commerce giant Rakuten Inc and Saudi Telecom Co., valuing it at about $1 billion. In 2016, the company registered an average monthly growth rate of 30 percent.

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