The Careem business model is one of the most studied in the Middle East: a ride-hailing start-up from Dubai that grew into a super app for rides, food, groceries, payments and more. This guide explains how Careem earns money, what its first public financials show and what you can take from it if you are planning an app of your own.
Facts in this article come from public reporting, linked at the end, and were checked in October 2026. Careem does not publish detailed revenue splits, so where we describe how it earns, we say so.
Key takeaways
- Careem earns mostly from commissions and fees on rides, food and grocery orders, and from payments and other services.
- The first public figures, in e&'s results for the first half of 2026, show growing revenue and a wider operating loss.
- The lesson for founders is to win one local need first, then add services to the same customers.
What does Careem mean?
Careem is an Arabic word meaning generous. It is a common name across the Arabic-speaking world, which helped the brand feel familiar in every market it entered.
How Careem started
Careem began in 2012 as a corporate car booking service in Dubai, built by co-founders Mudassir Sheikha and Magnus Olsson. Abdulla Elyas joined as a co-founder in 2015. The company later moved into consumer ride-hailing, then added food delivery (first as Careem Now in 2018), rapid grocery delivery (Careem Quik in 2020) and a payments product, Careem Pay, in 2022.
Uber acquired Careem for USD 3.1 billion. In 2023, e& (formerly Etisalat) took a 50.03% stake in the new Careem super app business for USD 400 million, which valued that business at USD 800 million. The ride-hailing business stayed with Uber. Ownership shares in the super app have changed since, so check the latest announcements before quoting a figure.
How the Careem business model earns money
Careem does not publish a revenue split by service, but its model is well understood from public reporting and from how the app works:
- Commission on rides. Careem charges a share of each fare for connecting riders with drivers. Rates are not published and vary by market.
- Commission and fees on delivery. Food and grocery orders earn a commission from the merchant and a delivery fee from the customer.
- Payments. Careem Pay lets customers hold a balance, pay in the app and send money, which keeps spending inside the platform.
- Other services. The super app also bundles services such as courier, bike and scooter rides and other everyday needs, each earning fees or commissions.
- Cross-selling. Every new service sold to an existing customer costs less than finding a new customer, which is the main reason for the super app model.
What the first public financials show
For the first time, Careem's super app numbers became visible through e&'s results for the first half of 2026. Reports based on those results put revenue at AED 884 million (about USD 241 million), up 20% year on year, and an operating loss of AED 447 million (about USD 122 million), roughly 28% wider than a year earlier.
The picture is useful for founders: a super app can grow revenue quickly across many services and still lose money while it spends on growth, incentives and operations. Copying the feature list does not copy the economics.
What founders can learn from Careem
- Start with one problem. Careem began with reliable rides and built trust before expanding.
- Add services your customers already want. Food, groceries and payments reuse the same users and the same app.
- Win both sides. A marketplace needs enough drivers or merchants and enough customers at the same time.
- Plan for licences and local rules. Transport, payments and delivery each have their own regulation in the UAE and nearby markets.
- Watch unit economics early. Track the margin on every order before you add incentives and discounts.
Should you copy Careem or serve a niche?
Few start-ups can match a super app's reach, and most should not try. A narrower service, such as car wash, home services or deliveries in one city, lets you control quality and costs while you learn what customers pay for. Many successful local apps follow the same pattern as Careem on a smaller scale: one service, a loyal customer base, then a second service once the first runs smoothly. If you are unsure which route fits your budget, we can map the features that matter most for a first release.
Building an app like Careem
A multi-service app needs a customer app, a driver or merchant app, an admin dashboard, live tracking, payments, ratings and notifications. Most teams launch with one service and add others later. Read our guide to taxi booking app development for the ride-hailing part, and our mobile app cost guide for Dubai for budgets.
At Arka Softwares, a basic mobile app typically costs USD 9,000 to 12,000, a medium one USD 15,000 to 24,000, and an advanced multi-service platform USD 24,000 or more. These are indicative prices for a single platform and exclude VAT. Learn about our mobile app development services in Dubai or tell us about your idea on the contact page.
Source: Arka Softwares delivery process.
