Ride-hailing Careem buys out Dubai-based money trading platform Denarii

Ride-hailing Careem buys out Dubai-based money trading platform Denarii

Dubai: The ride-hailing and food delivery platform Careem is on a buying spree – its latest is the Dubai based money trading platform Denarii. Key personnel from the latter will also be joining Careem, which recently acquired a cloud kitchen operator that focusses on corporate delivery services. Denarii’s proprietary money transfer technology uses a single API call to enable fintechs like Careem Pay to facilitate quick - and affordable - international money transfer. Denarii also helps businesses by automating accounts payable and B2B payments. It was founded in 2019 by Jon Santillan and Walfrido Perez. Careem Pay offers a digital wallet that stores real money for customers in the UAE as well as a peer-to-peer (P2P) transfer that enables customers to send, request and receive money using a phone number, personal QR code, or personal payment link. Access to international remittance services will round out Careem Pay’s payments offering.