MTN-backed Snapp, also known as the Uber of Iran, said its ride-hailing app is generating 2-million fares a day as young people in Tehran embrace technology in a market that is off-limits for western investors. “Snapp Tehran is now larger than any Uber city globally,” co-founder Eyad Alkassar said. “Reaching this milestone in only three years makes Snapp one of the fastest- growing internet companies in the world,” Alkassar said. The Middle East has been grabbing the attention of international investors in the past two years, with the largest-yet tech deal in the region struck last week as ride-hailing giant Uber Technologies agreed to buy its regional competitor Careem for $3.1bn.

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