Dubai-based Careem Acquires Money Transfer Platform Denarii

Careem Pay will use the startup's network to connect its own customers to money transfer services. Following the deal, some Denarii employees will move to Careem.

The money transfer startup integrates fintech and financial institutions with money transfer aggregators, banks, exchanges and wallets around the world.

Careem is actively expanding its other services as well. Last week, it acquired subscription meal delivery company Munch:On in the UAE. The Careem platform now offers more than a dozen services, including home delivery, food and grocery delivery, home cleaning and PCR analysis.

The terms of the deal were not disclosed.