Dubai based transportation network company, Careem is currently testing a bus-booking service ahead of a possible roll-out out across all 14 countries it operates in.
The service is targeted at low-income earners and will go live in four cities in Egypt, and is expected to be launch in September, according to Arabian business.
The amount that will be invested in this project by the Dubai-based company is unknown but indicated revealed that significant capital has been allocated for it.
Competition with Uber Technologies Inc. is pushing Careem to look at expanding into other services including food and package delivery. Uber has held preliminary talks to merge with its local competitor, people familiar with the matter previously told Bloomberg.
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Careem has also been speaking with investors to raise $500 million, and has held early talks with banks about a potential IPO in January.
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