The Saudi Arabian Public Investment Fund (PIF), the Kingdom of Saudi Arabia’s long-term sovereign investment arm, has invested $3.5 billion in Uber.
The investment, part of Uber’s Series G fundraising round, is one of PIF’s single largest international transactions to date. As part of this investment, PIF will take a seat on Uber’s board.
We appreciate the vote of confidence in our business and look forward to partnering with the Kingdom to support their economic and social reforms
Uber currently serves nine countries and 15 cities across the Middle East and North Africa. In Saudi Arabia, Uber serves Riyadh, Jeddah, Mecca, Medina and the Eastern Province.
“Our experience in Saudi Arabia is a great example of how Uber can benefit riders, drivers and cities. We appreciate the vote of confidence in our business and look forward to partnering with the Kingdom to support their economic and social reforms,” said Travis Kalanick, CEO and co-founder of Uber.