Dubai, UAE – Careem, the leading regional Everything App for mobility, delivery, and fintech services, has announced the acquisition of a minority stake in UAE-based digital car rental platform Swapp. This strategic move strengthens the partnership between the two companies and further expands their offerings in the fast-evolving car rental market.
Swapp was integrated into the Careem app in 2022 as “Careem Car Rental”, providing customers with convenient access to rental and subscription services.
Through this new investment, Careem and Swapp aim to deliver cutting-edge solutions to streamline the car rental experience — from instant KYC verification and seamless onboarding to one-hour car delivery powered by intelligent fleet management systems and real-time vehicle tracking through app integration. Customers can also swap cars on demand based on changing needs or choose a lease-to-own path, giving them flexible ownership options directly through the platform.
Swapp offers a fully digital car rental service, eliminating the need for physical visits or lengthy paperwork. Vehicles are delivered to customers’ doorsteps within 24 hours of online registration. The platform features a wide marketplace with vehicles from leasing companies, OEMs, and Swapp’s own fleet, including an expanding lineup of electric vehicles.
Uzair Moosa, CEO at Swapp, said:
“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. Over the months ahead we’re excited to expand our regional presence and offer our customers new multi-month deals and even faster fulfillment.”
Adeeb Warsi, Chief Operating Officer at Careem, added:
“The opportunity for car rental services continues to rise as more and more people opt for flexible and affordable means of transportation. Swapp’s supply of high-quality vehicles and smooth digital experience has delivered immense value to our customers’ lives and we’re excited to further expand our reach into this fast-growing segment.”
According to Statista, the UAE car rental market is expected to generate $175 million in revenue this year, with a 4.96% annual growth rate (CAGR 2025-2030), reaching $223 million by 2030. Moreover, 87% of total revenue is projected to come from online sales by the end of the decade.
