- Founded in 2017, the super app provides three core services—ride hailing, food and grocery delivery—and recently, financial services. It’s a multi-sided marketplace that provides its customers a single point solution for managing all their daily activities, from traveling to work to ordering groceries and meals. After operating for five years, the company said its services generate revenue for more than 100,000 of its partners, which include drivers, couriers, merchants, wholesalers, among other gig workers and vendors. It also claimed to have crossed the 8 million users mark.
Yassir, a San Francisco-based Algerian super-app offering on-demand services and financial services, has closed a $150 million Series B funding to power its expansion across Africa and the rest of the world.
The investment was led by BOND, with participation from DN Capital, Dorsal Capital, Quiet Capital, Stanford Alumni Ventures (aka Spike Ventures) and Y Combinator, among other prominent strategic global investors.
This investment, which is the biggest series B in North Africa so far, puts the company’s total funding to date at $193.25 million, after an early seed round of $13.25 million and a $30 million series A round a year ago. Upon closing its Series A, Yassir became one of the most valuable startups in North Africa.
The company confirmed that it is now the most valuable startup in the region, although it has not disclosed its valuation.
It also claims to be one of the highest valued companies in Africa and the Middle East. “It’s pretty high,” Noureddine Tayebi, founder and CEO of Yassir.
With this latest capital warchest, Yassir plans to further deepen its footprint in the northern African region and the rest of the world. It is currently operational in 45 cities across six countries, and most popular in Maghreb nations like Algeria, where it originated from, Morocco, and Tunisia.