Uber just scored a lot of money from a Middle Eastern investor.
Saudi Arabia's Public Investment Fund handed Uber $3.5 billion, one of the largest investments the kingdom's ever put toward a private startup company.
The ride-sharing service said in the past that it sees the Middle East and North Africa as one of its fastest-growing regions, and it plans to spend $250 million on expanding in the area.
Uber expanding in Saudi Arabia could be a boon for women in the country, who aren't allowed to drive due to a religious edict. The company claims roughly 80 percent of its riders in the country are women.
As a result of the deal, a rep from Saudi Arabia's Public Investment Fund will have a seat on Uber's board. The added funding didn't change Uber's valuation of $62.5 billion.