Series D

Series A

Series C

Series B

Corporate Round

Riyadh

Mohammed K. A. Al-Faisal

Olayan Mohammed Alwetaid

Ameen Fahad Alshiddi

Faisal Saeed Alsaber

Riyadh Saeed Muawad

Find detailed insights on STC: funding sectors, portfolio trends, and more. Explore Lucidity Insights.

stc group

stc Group (Saudi Telecom Company) is a leading digital enabler and the largest telecommunications operator in Saudi Arabia, providing digital services, 5G networks, cloud computing, IoT, and digital banking solutions across the Middle East, North Africa, and Europe.

Dubai

Series F

Careem

Logistics & Storage

Transportation

Delivery

Ride Sharing

Providing a range of daily services, Careem is a Dubai-based ride-hailing and super app company that aims to simplify people's daily lives in over 100 cities across 13 countries.

STC Bank

Fintech

Finance

E-Wallets

Mobile Payments

Credit

Banking

Financial Services

stc pay is transforming from being one of the first electronic wallets originating from the Kingdom of Saudi Arabia to becoming called STC Bank, one of the digital banks in the Kingdom.

Debt Financing

yallacompare

Insurance Technology

Yallacompare proves instant comparison in your pocket. Compare a range of insurance and financial products across the UAE.

Nearpay

Predictive Analytics

Software

Digital Payments

NearPay is a Saudi Fintech company that provides Payment Infrastructure as a Service

From now on, STC Pay will be transformed into a digital bank with this digital banking license in the Kingdom with a capital of about $670M which is roughly SAR 2.5 billion. STC said in a statement that they’re about to invest around $214M to meet the capital requirements in order to maintain its 85% ownership in the firm and that’s not all.

STC Pay acquired digital banking license in Saudi Arabia

2016 is almost out but there’s just time to anoint one more ride-sharing unicorn. Careem, one of Uber’s lower profile rivals in emerging markets, has taken a step into the global limelight today after it announced that it has raised $350 million led by Japanese e-commerce firm Rakuten and Saudi Telecom Company (STC).
Beyond Rakuten, which is already an investor in Uber rivals Lyft and South America-based Cabify, and STC, which is the largest telecom operator in the Middle East, other investors in the round include Abraaj Group, Al Tayyar Group, Beco Capital, El Sewedy Investments, Endure Capital, Lumia Capital, SQM Frontier and Wamda Capital.

Uber’s Middle Eastern rival Careem raises $350M at a $1B valuation

Careem, a Dubai-based technology start-up, raised $10 million in its Series B funding round to expand its operations in the Middle East. The investment includes $4.5 million from Saudi-based Al Tayyar Travel Holding Group, with a $4 million guarantee for later, and $1.5 million from STC Ventures and other regional investors. Careem plans to invest in 14 cities and expand app development from Morocco to Pakistan.

Careem raises $10m to expand Middle-East operations

Careem, a ride-hailing service in the Middle East and parts of Africa, raised $60 million in a Series C financing round led by the Abraaj Group. Previous investors include Al Tayyar, Lumia Capital, and STC Ventures. The funds will be used to accelerate operations in key markets such as Pakistan, the Middle East, and North Africa, and to invest in new products and services. Careem has been growing at an average rate of 30% month-on-month in its core markets of Saudi Arabia, UAE, and Egypt.

Careem raises $60m in series C financing

Careem, a Dubai-based car service app provider, secured $60 million in Series C funding. The round was led by The Abraaj Group with participation from Al Tayyar, STC Ventures, Beco Capital, Impulse, Lumia Capital, and Wamda Capital. The funds will be used to accelerate market expansion and innovation in the MENA region, Pakistan, and beyond.

Careem Secures $60M in Series C Funding - FinSMEs

Careem, a ride-sharing taxi service app founded in Dubai, has raised $60 million in a Series C funding round led by The Abraaj Group. The funds will be used to accelerate Careem's expansion across the Middle East, North Africa, and South Asia. This marks Careem's third funding round, following investments from Al Tayyar and STC Ventures. The company plans to expand its operations beyond Cairo into Alexandria, offering a free first ride to new customers. Careem aims to innovate its product, expand regionally, and recruit more talent.

Careem Receives US $60 Million In Funding For Planned MENA Expansion

Careem, a UAE-based ride-hailing service, raised $60 million in a Series C funding round led by Abraaj Group. Other investors include Al Tayyar, Saudi Telecom through STC Ventures, Beco Capital, Lumia Capital, Wamda Capital, and Impulse. The funds will be used to expand in the MENA region and southern Asia, grow the team, and introduce new products and services.

Careem rises with $60m series C

yallacompare, a leading comparison site for financial products in the Middle East, raised USD $8 million in a Series C funding round led by STC Ventures (Iris Capital), Wamda Capital, and Argo Ventures. The funds will be used to expand their workforce by up to 50% and to extend their insurance aggregation services to additional regional markets. The company aims to issue more than $50 million in policies in 2019.

yallacompare Raises USD $8 million in New Funding Round USA - English Middle East - English

In September 2015, yallacompare raised $3 million in a Series A funding round. The investment was led by STC Ventures, the venture capital arm of Saudi Telecom, with additional backing from Wamda Capital and Dubai Silicon Oasis Authority. The funds are aimed at expanding yallacompare's financial comparison services across the Middle East.

stc group

Funding Deals, by Startup Growth Stage

Funding Deals, by Region

No. of Portfolio Companies

Total No. of Investments Globally, by Year

We Invest in Startups in the Following Stages

Statistics

Sectors we invest in

Top 3 sectors we invest in

Portfolio Companies
or Investments

Executive Team Members

stc group

Funding Deals, by Startup Growth Stage

Funding Deals, by Region

No. of Portfolio Companies

Total No. of Investments Globally, by Year

We Invest in Startups in the Following Stages

Statistics

Sectors we invest in

Top 3 sectors we invest in

Portfolio Companies or Investments

Executive Team Members

Portfolio Companies
or Investments