Latest news with #MudassirSheikha
Zawya
23-04-2025
- Business
- Zawya
Alaan hits profitability in record time, amid rising business activity in the Middle East
Dubai: Fintech Alaan announced that it has hit profitability in UAE within the first 3 years of launch - becoming the first corporate card and spend management player in the region, and one of the fastest globally to do so. Launched to the public in August 2022, the fintech's profitability was fueled by a 500% revenue growth in the last 12 months, powered by its all-in-one expense management platform. Alaan serves over 1,200 businesses across the MENA region, including leading enterprises like G42, Lulu and Sony as well as rapidly growing startups like Foodics and Invygo. Co-Founder and CEO, Parthi Duraisamy stated, "During our time in Y Combinator, we learned that the most important metric for our business isn't transaction volume - it's net revenue. That mindset shift pushed us to obsess over unit economics and build with discipline. UAE's post-COVID economic momentum created the perfect tailwind, helping us reach profitability faster than we anticipated.' The company has raised more than $7.5 million from the world's leading investors, like Y Combinator, Presight Capital, 468 Capital and renowned angels, including Mudassir Sheikha (Founder, Careem), Abdallah Abu Sheikh (Founder, AstraTech), Yi-Wei Ang (CPO, Talabat), Jad Halaoui (Founder, Washmen) and more. Alaan has a five-year exclusive partnership with Visa, and recently launched in Saudi Arabia in collaboration with Neoleap, a subsidiary of Al Rajhi Bank. To know more, visit About Alaan Alaan is the largest and most comprehensive spend management platform in the Middle East. Alaan cards are utilized by over 1000 mid-market and enterprise customers, serving more than 200,000 people, across sectors including Real Estate, Aviation, Logistics, and Retail. With its proprietary AI-powered corporate cards, Alaan has saved millions for businesses and has supercharged finance teams that are looking for a technological edge in saving time and money for their organizations. Alaan launched in 2022 in the UAE and is backed by Y Combinator, and ranked as the No.1 expense management platform by G2 across Middle East and Africa.
Mid East Info
04-03-2025
- Business
- Mid East Info
Support communities in need with Careem during Ramadan - Middle East Business News and Information
Direct and recurring donations can be made to different charities including Dubai Cares, the ICRC, and Emirates Red Crescent via Careem's donations platform, Right Click Careem Food brings back 'Eat a Plate to Fill a Plate' in collaboration with World Food Programme and over 500 restaurants. Food baskets can be purchased and donated through Careem Groceries, in partnership with the UAE Food Bank. Dubai, UAE – March, 2025: This Ramadan, Careem is helping customers give back to their communities when ordering food or groceries, or donating through the 'Right Click' donations platform. Mudassir Sheikha, CEO and co-founder of Careem, commented: 'Ramadan is a time of generosity and reflection, and we feel a deep sense of responsibility to support the communities we serve. We've introduced easy ways to give back when ordering food or groceries, and thanks to our incredible partners, we hope to drive meaningful impact that extends beyond Ramadan and fosters a spirit of ongoing giving.' Through Careem's in-app donations platform, Right Click, customers can contribute directly to a number of charitable organizations, including Dubai Cares, the International Committee of the Red Cross (ICRC), Emirates Red Crescent, and Beit Al Khair in the UAE. Customers can also set up automatic recurring donations, ensuring a consistent and long-term impact. Customers in the UAE can purchase and donate food baskets with items like rice, flour, beans and cooking oil through Careem Groceries. The baskets will be distributed to communities across the UAE in partnership with the UAE Food Bank. Careem Food is bringing back the popular 'Eat a Plate to Fill a Plate' campaign in collaboration with over 500 restaurants in Dubai and Abu Dhabi. For every food order placed through the app, AED 2 will be automatically donated to the World Food Programme in the UAE, helping to provide meals to communities in need during Ramadan. Careem colleagues will also distribute Iftar meals to captains at least 3 times a week in the UAE, and every day in Jordan. Careem's Ramadan initiatives are part of its commitment to leveraging technology for social good, making it easier for communities to come together and support one another during the holy month. To support communities in need through Careem this Ramadan, download or open the latest version of the Careem app. About Careem: Careem is building the Everything App for the greater Middle East, making it easier than ever to move around, order food and groceries, manage payments, and more. Careem is led by a powerful purpose to simplify and improve the lives of people and build an awesome organisation that inspires. Since 2012, Careem has created earning opportunities for over 2.5 million Captains, simplified the lives of over 70 million customers, and built a platform for the region's best talent to thrive and for entrepreneurs to scale their businesses. Careem operates in over 70 cities across 10 countries, from Morocco to Pakistan.
Zawya
03-03-2025
- Business
- Zawya
Support communities in need with Careem during Ramadan
Careem Food brings back 'Eat a Plate to Fill a Plate' in collaboration with World Food Programme and over 500 restaurants Food baskets can be purchased and donated through Careem Groceries, in partnership with the UAE Food Bank Dubai, UAE: This Ramadan, Careem is helping customers give back to their communities when ordering food or groceries, or donating through the 'Right Click' donations platform. Mudassir Sheikha, CEO and co-founder of Careem, commented: "Ramadan is a time of generosity and reflection, and we feel a deep sense of responsibility to support the communities we serve. We've introduced easy ways to give back when ordering food or groceries, and thanks to our incredible partners, we hope to drive meaningful impact that extends beyond Ramadan and fosters a spirit of ongoing giving." Through Careem's in-app donations platform, Right Click, customers can contribute directly to a number of charitable organizations, including Dubai Cares, the International Committee of the Red Cross (ICRC), Emirates Red Crescent, and Beit Al Khair in the UAE. Customers can also set up automatic recurring donations, ensuring a consistent and long-term impact. Customers in the UAE can purchase and donate food baskets with items like rice, flour, beans and cooking oil through Careem Groceries. The baskets will be distributed to communities across the UAE in partnership with the UAE Food Bank. Careem Food is bringing back the popular 'Eat a Plate to Fill a Plate' campaign in collaboration with over 500 restaurants in Dubai and Abu Dhabi. For every food order placed through the app, AED 2 will be automatically donated to the World Food Programme in the UAE, helping to provide meals to communities in need during Ramadan. Careem colleagues will also distribute Iftar meals to captains at least 3 times a week in the UAE, and every day in Jordan. Careem's Ramadan initiatives are part of its commitment to leveraging technology for social good, making it easier for communities to come together and support one another during the holy month. To support communities in need through Careem this Ramadan, download or open the latest version of the Careem app. About Careem Careem is building the Everything App for the greater Middle East, making it easier than ever to move around, order food and groceries, manage payments, and more. Careem is led by a powerful purpose to simplify and improve the lives of people and build an awesome organisation that inspires. Since 2012, Careem has created earning opportunities for over 2.5 million Captains, simplified the lives of over 70 million customers, and built a platform for the region's best talent to thrive and for entrepreneurs to scale their businesses. Careem operates in over 70 cities across 10 countries, from Morocco to Pakistan. For media inquiries: Jasmine AlDameary
