Algeria: Yassir raises nearly 150 million euros for its expansion

Algeria: Yassir raises nearly 150 million euros for its expansion

The Algerian start-up Yassir, which provides taxi and food delivery services, announced on Monday that it has raised around 150 million euros to finance its expansion in Africa and around the world.

The platform founded in 2017 said in a statement that it had “Raised $150M in Series B Funding from Leading Global Investors”.

“The investment was led by BOND, one of Silicon Valley’s leading venture capital firms, with participation from Y Combinator, the world’s largest startup accelerator, DN Capital, Dorsal Capital, Quiet Capital and Stanford Alumni Ventures, as well as other existing and strategic investors”according to the same source.

Recalling having already lifted “$193.25 million over the five years” that followed its launch, Yasir claims to have become after the fundraising announced Monday “the most valuable start-up in North Africa and one of the most valuable companies in Africa and the Middle East”.

“With this latest fundraising, Yassir plans to expand its reach in the region”she added in the press release.

“We look forward to expanding our presence in other geographies to become the first SuperApp to gain mass adoption”said Noureddine Tayebifounder and CEO of Yassir, quoted in the press release.

The company, which operates through a 100% Algerian application, is now present in six countries and 45 cities, where it claims to be used by more than 8 million users. Popular in the region of Maghreb (Algeria, Morocco and Tunisia) and in parts of Francophone Africa, Yassir provides three basic services: transportationthe meal delivery and of racesas well as financial services.

“We are very ambitious. The goal is to create the biggest technology company, not only in Africa but in the world. To reach it, you have to be in a lot of regional, continental and global markets”Mr. Tayebi told AFP in April.