Dubai: The UAE telecom-tech giant e& is picking up a majority stake in CAreem Super App, through a binding agreement with Uber Technologies., which will continue to own Careem's ride-hailing operations in full.

This will be done by creating a separate entity around Careem Super App, which in the recent past has expanded into multiple services, including remittances. "Careem’s ride hailing business will remain fully owned by Uber and continue to be available with all other Careem services on the existing app for customers," e& said in a statement. 

e& is investing $400 million to be majority shareholder in Careem's Super App alongside Uber and all three of Careem's co-founders. The Careem Super App offers over a dozen services including food and grocery delivery, micro-mobility, a digital wallet and suite of fintech services, and additional third-party services such as home cleaning, car rental and laundry.

Careem serves customers in 10 countries across the Middle East, North Africa and South Asia.

With this new investment, Careem plans to accelerate the realisation of its ambitious vision to create the first “everything app” serving customers across the Middle East. This will include expanding its core food, grocery, and fintech services and the Careem Plus subscription programme across the region while adding even more partner services to the app. Careem expects significant synergies with e& and anticipates benefiting from e&’s large customer base and extensive experience scaling complex tech enabled businesses across a largely shared geographic footprint.