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1/ Nothing can come close to the kind of impact Careem has had on the entrepreneurial ecosystem of the region. Wherever you see, you'll find former Careem operators building the next group of breakout startups of the region.
2/ In the last 48 hours, three of them have announced significantly large investments: Sary, Retailo, Flextock. This obv. does not mean that they've made it. There's a long way to go but all of these companies are off to a solid start (Sary way ahead with $500m GMV).
3/ Sary closed its $30.5 million Series B for its B2B ecommerce marketplace. The co-founder and CEO M. Aldossary was a former GM at Careem Riyadh. https://www.menabytes.com/sary-series-b/
4/ Retailo, also a B2B ecommerce marketplace raised $6.7 million in Saudi's largest seed. All three co-founders built and scaled products for Careem in different markets. https://www.menabytes.com/retailo-seed/
5/ Flextock is a special one as it is one of the first female-founded startups (by a Careem alum) that has been able to raise a large investment round. Its co-founder and COO Enas Siam in her most recent role led Careem Bus in Egypt. https://www.menabytes.com/flextock-pre-seed/
6/ Not sure about Flextock but Sary and Retailo have many Careem executives on their cap tables.
Careem's biggest achievement is producing this extraordinary talent base that's building or helping build the next Careems of the region.
Careem's biggest achievement is producing this extraordinary talent base that's building or helping build the next Careems of the region.
