Careem has acquired a minority stake in Swapp, the UAE-based car rental and subscription platform, expanding a partnership that began in 2022 when Swapp was integrated into the Careem Everything App as Careem Car Rental.
Swapp’s fully digital platform allows customers to register online and have a car delivered within 24 hours, removing the need for traditional rental paperwork. Its marketplace sources vehicles from leasing companies, OEMs, and its own fleet, which increasingly includes EV models.
The investment will unlock new features inside Careem’s app, including instant KYC onboarding, one-hour car delivery with smarter dispatching, real-time vehicle tracking, on-demand car swaps, and lease-to-own options. Swapp also plans to expand regionally, introduce multi-month rental deals, and speed up fulfillment as it enters its next growth stage.
“The opportunity for car rental services continues to rise as more people opt for flexible and affordable transportation,” said Adeeb Warsi, COO at Careem. “Swapp’s supply of high-quality vehicles and smooth digital experience has delivered immense value to our customers’ lives and we’re excited to expand further into this fast-growing segment.”
The UAE’s car rental market is expected to generate $175 million in revenue this year, growing to $223 million by 2030, with nearly 90% of sales projected to come from online platforms, according to Statista. Careem is betting that deeper integration with Swapp will allow it to capture more of that shift as digital-first rental platforms become mainstream.
