Magnus Olsson’s Mission to Transform Lives with Careem

Magnus Olsson is the co-founder and Chief Product Architect of Careem, representing entrepreneurial spirit, innovation, and resilience. From his roots as a teenage business owner in Sweden to his professional journey crossing continents, Olsson has transformed ride-hailing in the Middle East. Hands-on, customer-focused, and dedicated to solving real-life problems, he has been the force behind the growth of Careem from a scrappy start up to a billion-dollar brand. At Careem, one can often see Olsson personally engaging with captains or listening to customer feedback—an attitude that reflects his passion for making lives simpler and better.

Magnus Olsson’s entrepreneurial journey began at the young age of 15 when he started his first business in Sweden. Given the fact that he has always had an aptitude towards technology and innovation, Olsson opted for computer engineering studies to form a base in the future aspects of product development and leadership in business. Moving to the Middle East in 2006, Olsson had first-hand exposure to transport and mobility gaps and subsequently set up Careem along with Mudassir Sheikha in 2012. Careem was not just a ride-hailing service but a platform that could improve the quality of life for millions across the region.

Under Magnus Olsson’s stewardship, Careem exploded from relatively small beginnings to expanding services into more than 100 cities across the Middle East, North Africa, and South Asia. One of the important aspects of Careem’s success has been the approach hyper-localized -tailoring solutions for a unique need in each market. In that regard, it included the possibility of cash payments in areas of very low banking penetration. Moreover, it came up with the ride options within multiple budget ranges.

Olsson has always believed in a customer-first philosophy. He believes in listening to users and incorporating their feedback into Careem’s product development. Whether chatting with captains or personally responding to customer queries, Olsson ensures that the company’s services are continually improving.

Magnus Olsson’s role as Chief Product Architect has allowed him to shape Careem’s innovative services. In addition to ride-hailing, Careem has diversified into food delivery, payments, and logistics as it looks to become the region’s leading “super app.” This vision was made possible by Olsson’s deep understanding of technology and his ability to adjust with the changing market dynamics. In 2020, Careem was acquired by Uber for $3.1 billion, which happened to be one of the largest tech deals in the Middle East. Despite this, Olsson has managed to stay cantered on sustaining Careem’s different identity while continuing to innovate under the new ownership.

In his entrepreneurial experience, Magnus Olsson encountered a tough battle. Not only would he have to deal with fierce competition but also complex environments of regulations that came with careem’s growth. The humbleness, empathy, and eagerness to roll up their sleeves that marked Olsson’s leadership made Careem’s team stand for quality.

Magnus Olsson sits on several boards, among them being Swvl and Ifrågasätt. He is an active angel investor, who supports innovative startups in any industry. This passion of mentoring young entrepreneurs shows a commitment to developing a culture of innovation and entrepreneurship in the region.