Yassir, Algerian transport startup raises $30m in Series A funding round

Algeria’s on-demand transportation platform Yassir has raised a US $30million Series A round to help it grow in existing markets as well as expand into new areas.

Yassir was established in 2017 to provide on-demand ride-hailing services.

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The US $30 Million Series A round was led in part by a large group of strategic investors that included Spike Ventures (WndrCo), DN Capital, Kismet Capital, and Spike Ventures), and Endeavor Catalyst, FJ Labs (VentureSouq), VentureSouq. Nellore Capital, Moving Capital, and other notable angel investors.

Yassir had previously raised US $13.25M during an undisclosed round of seed funding in which Y Combinator was a participating investor. Noureddine Tyebi, the co-founder of Yassir, thanked all investors and explained how funding would be used.

He said that funds will be used to triple the size of our engineering team in order to achieve our product ambitions, consolidate and expand our market share via existing products and in new markets.

“Yassir to me is more than a business. It was founded with fourfold goals. First, we aim to build a 100% local success model for tech startups that will be copied by others and more specifically Yassir members. Our second goal is to empower local talent. We also want to help the technical talent who often leave the region for Europe to continue their studies or to find jobs.

Yassir has begun its expansion into new markets. Initially, it focuses on West Africa, but some parts of Europe. It will launch its next phase in these markets.

“Yassir represents a natural evolution of companies that have been seen in other parts of the world. We recognized the opportunity to enter an immense market with a service using the best models from other countries the instant we met the team. Anthony Saleh (partner at WndrCo) said, “We’re thrilled that we can be part of this thrilling journey.”

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