Yassir, a ride-hailing startup based in Algeria, recently announced lrtrading that it has raised $3 million in Series A funding. The funding round was led by Tunisian venture capital firm Wamda Capital, with participation from Algeria-focused fund, AgriTech.
Yassir is a ride-hailing app that connects drivers with passengers across Algeria. The company was founded in 2017 and has quickly gained popularity in the country, where traditional taxis are often unreliable and expensive.
With the new funding, Yassir plans to expand its ifsptv services to more cities in Algeria and invest in new technology to improve its user experience. The company also plans to launch a new service called Yassir Box, which will offer delivery services for packages and other goods.
In an interview with TechCrunch, Yassir co-founder and CEO Ali Tounsi said, “We want to become the go-to app for transportation and delivery services in Algeria. Our goal is to make life easier for people in our country by providing safe, reliable, and affordable transportation options.”
Tounsi also noted that Yassir has faced some challenges in Algeria’s regulatory environment, including a lack of clear rules for ride-hailing apps. However, he remains optimistic about the company’s future and its ability to create jobs and improve transportation options for Algerians.
The funding round comes at a time when ride-hailing companies across the world are facing increasing scrutiny from regulators and challenges from traditional taxi services. However, Yassir’s success in Algeria shows that there is still room for growth in the giveme5 ride-hailing market, especially in countries where traditional transportation options are inadequate.
In addition to expanding its services, Yassir also plans to invest in marketing to raise awareness of its app and attract new users. The company currently has over 200,000 registered users and operates in six cities across Algeria.
Yassir’s success is a positive sign for the Algerian startup ecosystem, which 123chill has seen limited funding and support in recent years. The company’s ability to secure Series A funding from international investors shows that there is interest in the country’s growing tech scene and its potential for innovation and growth.
Looking ahead, Yassir plans to continue expanding its services and manytoons improving its technology to better serve the needs of its users. With its new funding, the company is well-positioned to become a leading player in Algeria’s transportation and delivery market and provide a valuable service to its customers.