STV participated in Careem’s $200 million Series F in October 2018. Abdulrahman had also led Saudi Telecom Company’s (STC) $100 million investment in Careem in December 2016. His bet on the company back then will turn that $100 million investment into close to $275 million of potential returns based on Saudi Telecom Company’s filing. Abdulrahman has been the board member of Careem since making the investment for STC. The firm since launching last year, in addition to Careem, has made investments in Telfaz11, Vezeeta, Unifonic, and most-recently Mrsool.

Source: The North Africa Journal April 04, 2019 08:48 UTC