Transaction gives Swapp access to a fleet valued at over USD 20M and accelerates its growth across the UAE

Dubai – Legend Holding Group has signed a landmark strategic partnership and joint venture with Swapp, the UAE-based car subscription platform, committing a dedicated fleet valued at over USD 20M. The partnership will initially see 1,000 vehicles supplied by Legend Rent a Car integrated into the Swapp platform, with plans to scale the fleet further within the UAE and across the GCC as part of the partners’ regional growth roadmap through 2026.

This first-of-its-kind transaction in the region marks a significant evolution of the car subscription model, combining Swapp’s technology-led marketplace with a long-term, committed supply partner. The partnership enables Swapp to evolve from a pure marketplace into a hybrid platform supported by a strategic fleet partner, strengthening supply reliability while maintaining a capital-efficient operating model.

Building on Swapp’s seamless, fully digital customer experience, the partnership expands access to a broader range of vehicles at competitive price points while further simplifying key aspects such as insurance, protection, and vehicle care. This reinforces Swapp’s focus on delivering a hassle-free, transparent subscription experience designed around convenience and flexibility.

The initial fleet deployment establishes a long-term supply framework between the two companies, creating the foundation for continued fleet expansion, deeper operational integration, and a multi-market rollout across the GCC. The fleet includes models from leading brands such as Kaiyi, Chevrolet, Geely, and MG, reflecting increasing consumer demand for high-quality, next-generation vehicles, including fast-rising Chinese automotive brands.

Last year, Careem acquired a minority stake in Swapp following a period of close operational collaboration and strong strategic alignment. That investment marked a significant validation of Swapp’s product-market fit, execution capability, and role in shaping the future of mobility in the UAE. The partnership with Legend Holding Group builds on this foundation, further strengthening Swapp’s capitalization, supply depth, and long-term growth trajectory.

Since inception, Legend Rent a Car has rapidly established itself as a trusted provider of high quality vehicles, driven by a customer-centric approach and operational excellence. Its parent company Legend Holding is privately held and generated USD 2B in revenue in 2025. In parallel, Swapp has emerged as one of the region’s fastest-growing and already profitable subscription platforms, attracting strategic partners through its delivery-focused model. With strong momentum, with this partnership Swapp’s is on track to become the UAE’s largest car subscription platform by year-end, reflecting growing market confidence in its scalable vision and execution capability.

Swapp’s platform is integrated into the Careem Everything App, where it powers the exclusive car subscription and rental offering. Looking ahead, Swapp is rolling out a series of product enhancements designed to further elevate customer experience, including instant digital onboarding completed within minutes, faster vehicle delivery enabled by smarter fleet dispatching, real-time vehicle tracking, on-demand vehicle upgrades, and flexible lease-to-own pathways offering customers a route to ownership within a fully digital journey.

Regionally, Legend & Swapp continues to demonstrate strong product-market fit. According to PwC, more than 50% of MENA consumers prefer subscription-based payments for convenience. As digital payments infrastructure and e-commerce adoption accelerate, customers are increasingly choosing subscription models driven by flexibility, transparency, and cost efficiency.

Commenting on the partnership, Uzair Moosa, CEO of Swapp, said:

“This partnership with Legend Holding Group is a strong validation of the product we’ve built and the results we’ve delivered. By combining Swapp’s technology and customer-first subscription model with Legend’s scale and automotive expertise, we are meaningfully expanding choice, improving availability, and continuing to raise the bar for customer experience across the UAE.

Careem’s decision to invest in Swapp last year was rooted in deep operational alignment and a shared conviction in how mobility should evolve in the region. Since then, we’ve delivered strong financial performance and scaled responsibly. Legend joining us now is a powerful continuation of that journey a further vote of confidence in our vision, our execution, and the results we’ve delivered.”

Pawan Rathi, General Manager of Legend Rent a Car, added:

“This strategic partnership with Swapp represents the right collaboration to scale our operations while delivering greater value to customers. By enabling a simplified, fully digital car subscription experience at the click of a button, this initiative aligns with Dubai’s future development and the D33 agenda. We look forward to working closely with Swapp, global partners, and leading Chinese brands to bridge innovation with customer satisfaction.”

About Swapp
Swapp is the UAE’s leading technology-driven car subscription marketplace, redefining mobility through a flexible, circular usership model. Swapp delivers a fully digital, friction-free booking experience across a wide range of vehicles — from everyday drivers to electric vehicles — by aggregating inventory from leading OEMs and leasing partners. The Swapp marketplace also serves as the exclusive subscription engine powering Careem Car Rentals. Swapp is privately owned and backed by venture capital funding.
www.swappcars.com

About Legend Holding Group

Legend Holding Group is a diversified enterprise headquartered in the UAE, operating across the Middle East and Africa. With a strong focus on sustainability and innovation, the group manages a growing portfolio across automotive, trading, energy, travel and tourism, investments, technology, and mobility services. Its subsidiaries include Legend Rent a Car, Legend Motors, Legend Travel and Tourism, Zul Energy by Legend Holding, Lifan Motorcycles, and exclusive import rights for brands including 212 and Kaiyi, alongside Legend Green Energy Solutions.

Rooted in Loyalty, Excellence, and Progress, Legend Holding Group leads with innovation and technology to seamlessly connect the physical and digital worlds driven by a shared belief that Together We Grow.
www.legendholding.com

About Careem

Careem is building the Everything App for the Middle East, making it easier than ever to move around, order food and groceries, manage payments, and more. Careem is led by a powerful purpose to simplify and improve the lives of people and build an awesome organisation that inspires. Since 2012, Careem has created earning opportunities for over 3.5 million Captains, simplified the lives of over 75 million customers, and built a platform for the region's best talent to thrive and for entrepreneurs to scale their businesses.