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Careem buys Dubai-based money transfer startup

By Pramod Kumar
Creative Commons
Careem will also use the new addition to its Super App to allow customers and Captains to connect with remittance services

Uber-owned app ride-hailing firm Careem has acquired the assets of Dubai-based money transfer platform Denarii.

Founded in 2019 by Jon Santillan and Walfrido Perez, Denarii will enable fintechs like Careem Pay to process quick and affordable international money transfers.

Careem will also use the new addition to its Super App to allow customers and Captains to connect with remittance services.

Mudassir Sheikha, CEO and co-founder of Careem, commented: “We’re thrilled to acquire the assets of Denarii, a startup that is transforming the way people move money across the world.”

Founded in July 2012, Careem operates in over 100 cities across 12 countries and was acquired by Uber Technologies in January 2020 in a deal with $3.1 billion.

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