(Image Source: MENAbytes)
Yassir announced a $30 million Series A, with participation from several venture capital firms and angel investors including DN Capital. The Algerian startup, which provides on-demand services, is one of the most funded in both the Maghreb and MENA regions.
Founded in 2017, the company started with ride-hailing services before introducing last-mile delivery services later on. According to CEO Noureddine Tayebi, Yassir was born from a need to tackle the lack of efficient banking solutions in French-speaking Africa. .
“Our approach of solving the unbanked population problem is unique in the region by offering more of a ‘banking as a platform’ solution where daily services are at the heart of it all via a super-app marketplace,” said Tayebi. “Most of our competitors are either on-demand services…or pure payment solutions. This gives us an edge over them as we build the network, the channels and the trust that are all key ingredients for the adoption of payment services at large scale.”
With over 3 million users and 40,000 partners, Yassir has seen exponential growth since its birth. The company will use the funds to not just expand into more markets but also develop new products while improving existing ones. Tayebi also plans to increase the size of the engineering team but with a focus on local talent.
“We are [a] 100% local champion, including tech talent, as we want to empower the tech talent in the region and hire them in each country we operate in,” stated Tayebi.