Careem has acquired a minority stake in Swapp, the UAE-based online car rental platform, deepening a partnership that began in 2022 when Swapp was integrated into the Careem Everything App as Careem Car Rental.
The move strengthens Careem’s mobility portfolio and will support the rollout of new features including instant KYC for faster onboarding, one-hour car delivery through smarter fleet dispatching, real-time vehicle tracking, on-demand car swaps, and lease-to-own options.
“Being embedded within the Careem app has enabled us to connect thousands of customers in the region to flexible car rental with unparalleled convenience and cost-savings,” said Uzair Moosa, CEO of Swapp. “Over the coming months, we’re excited to expand our regional presence with new multi-month deals and even faster fulfillment.”
Adeeb Warsi, COO of Careem, said: “The opportunity for car rental services continues to rise as more people opt for flexible and affordable transportation. Swapp’s high-quality vehicles and seamless digital experience have delivered immense value to our customers, and we’re thrilled to expand into this fast-growing segment.”
Swapp operates a fully digital car rental model where vehicles are delivered to customers within 24 hours of online registration. Its marketplace aggregates supply from leasing companies, OEMs, and its owned fleet, with a growing focus on electric vehicles.
According to Statista, the UAE’s car rental market is expected to generate $175 million in revenue this year, growing at a 4.96% CAGR through 2030 to reach $223 million, with 87% of sales expected to come from online platforms.
Careem Car Rental, powered by Swapp, offers daily, weekly, and monthly rentals across brands including Nissan, Toyota, Mitsubishi, BMW, Porsche, Ferrari, Tesla, and more, serving both everyday and premium mobility needs.
