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Saudi venture fund STV says Uber deal with Careem to help Mid-East ride-hailing firm grow

[DUBAI] Saudi Technology Ventures (STV) said on Tuesday Uber's deal with Careem will help the Middle East ride-hailing firm expand its customer base even further and continue to develop the regional economy.

STV is a Careem investor and participated in the company's US$200 million Series F investment round 2018.

STV, backed by Saudi Telecom Co, is a venture fund in the Middle East and North Africa region with over US$500 million in deployable capital.

REUTERS

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