Careem Acquires Minority Stake in Swapp to Expand Rental Offerings

Careem has bought a minority stake in Swapp, the UAE-based digital car rental and subscription platform, deepening a partnership that began in 2022 when Swapp was integrated into Careem’s Everything app. 
Swapp’s fully digital platform allows users to register online and have a car delivered within 24 hours, bypassing traditional rental paperwork. Its supply model draws vehicles from leasing companies, OEMs, and its own fleet, including an expanding mix of EVs.
With the minority investment, Careem and Swapp plan to roll out new features: instant KYC onboarding, one-hour vehicle delivery using smarter dispatch methods, real-time tracking, on-demand car swaps, and lease-to-own options — all accessible through Careem’s app. On growth moves, Swapp will look to expand regionally, offer multi-month rental deals, and further accelerate delivery.
The rental market in the UAE is projected to reach $175 million in 2025, growing at around 4.96% annually toward $223 million by 2030, with the lion’s share of revenue coming from online bookings.