Thank You: Careem acquires money transfer technology platform Denarii

Today we are thrilled to announce that Denarii’s assets are being acquired by Careem, the region’s leading Super App.

When we started Denarii in 2019, we set out on an ambitious mission to simplify and enhance the lives of the people and the businesses we serve by connecting them through modern technology that makes international transfer cheaper and faster.

Since 2019, with the help of our colleagues, customers, investors, and partners, we succeeded in establishing the Denarii Super API as the most powerful tool for fintechs and financial institutions to connect to any remittance aggregator, bank, house exchange, wallet, or decentralized protocol out there. Using a single API call we made it incredibly simple and easy for our clients to optimize and connect to remittance providers. 

Careem Pay will use Denarii’s money transfer technology to connect its wide network of customers and Captains with remittance services provided by licensed providers. Careem Pay already offers a wide range of services including a digital wallet, bill payments, and a peer-to-peer (P2P) transfer product that enables customers to send, request, and receive money using just a phone number, personal QR code, or personal payment link. Our technology will help round out the Careem Pay payments offering for customers and Captains to address their everyday financial needs. 

Careem has done more than perhaps any other startup in the region to simplify and improve the lives of people. So we’re incredibly excited to work together to bring remittance to the Careem tech stack to serve a large network of customers and Captains. Our ambition is to create economic freedom for millions of people in the region!

Thank you again to all the customers and partners who have supported us in this incredible journey!

Click here to find out more

– Jon Santillan & Walfrido Perez, Co-founders at Denarii

About Denarii

Denarii enables money transfer using a mobile app, web and API to help consumers, businesses and fintechs to send money across borders cheaper, better, and with no hidden charges.  Started in 2019 by Jon Santillan and Walfrido Perez following their graduation from 500 Global’s MISK500 Accelerator program, Denarii is backed by Class5 and Merak Capital. Other investors include Mountain Partners, Foxmont Capital, IMO.VC, and notable angel investors in the region such as Musaab Hakami, Turki AlJeaid, Basem Alsallom, Gaurav Dhar, and Khursan Yalla. Denarii has participated in the Hub71 incentive program, the Mohammed Bin Rashid Innovation Fund, and the Dubai Chamber Accelerator program, and has received an incentive grant from the Abu Dhabi Investment Office.

We are super excited to join Careem Pay.