Algeria-based super app Yassir has raised US$150 million in Series B funding to expand operations geographically.
Founded in 2017 by Noureddine Tayebi and El Mahdi Yettou, Yassir is a super app that provides its users with a suite of services, including ridesharing, grocery deliveries, and financial services. It operates in 45 cities across six countries throughout the world, and has more than eight million users.
Its US$150 million Series B funding round was led by BOND, with participation from DN Capital, Dorsal Capital, Quiet Capital, Stanford Alumni Ventures (aka Spike Ventures) and Y Combinator, among other strategic investors. The round takes Yassir’s total secured funding to US$193.25 million, which the startup claims makes it the most valuable startup in North Africa.
With this latest round of funding, Yassir plans to expand its reach into the region.
“Yassir means “easy” in Arabic, and our mission as a company is to make people’s lives easy,” Tayebi said. “In the markets where we operate, we are already having a considerable impact on how people manage their day-to-day lives. We look forward to expanding our presence into other geographies to become the first super app to achieve mass adoption.”
Daegwon Chae, general partner at BOND, said his firm believed technology would “foundationally rearchitect” consumers’ relationships with daily needs such as transportation, food, and financial services – not just in developed countries, but in every corner of the world.
“This investment is an extension of that belief in an underserved but dynamic, rapidly growing region. Emerging out of North Africa, the app has already become indispensable to users for critical aspects of their lives,” he said.
