The super app Yassir, specially designed for the French speaking Africans secured one of the super raises across the continent this year with $150 million capital in series B funding round.
This brings the total raised value to $193 million since the initiation of the application and that proves it to be the most successful startup in the African continent. The valuation at which the fund was raised remains unofficial.
BOND headed the round, which is the growth stage firm and got the support from other strategic investors including Dorsal Capital, DN Capital, Quiet Capital, Y Combinator via its Continuity Funds and Stanford Alumni Ventures.
Algerian Supper App, Yassir
The Algerian application Yassir was founded by Noureddine Tayebi and Al Mahdi Yettou by keeping the French speaking Africans in mind. The application was founded in 2017 with a suite of services for its users. The on-demand servicing app provides a variety of amenities for the people that had very little or no access on a single platform.
It includes food and grocery delivery, ride hailing, payments etc. the app is available with different names for different purposes like-
- YASSIR Market app available on play store which is an ecommerce platform,
- YASSIR Express, for food items and grocery, you have to go through the
- YASSIR Order a Ride is the one to use for getting a taxi etc.
This superlative application is operated in 45 cities of 6 countries and is most popularly used in the French speaking Maghreb Regions like Morocco, Algeria and Tunisia, .
The app has almost eight million users and is expanding day by day and it was also reported by the company that 3 out of 5 on- demand activities of Algeria are made via using the YASSIR platform, as Algeria is its first market.
And this super growth of Yassir platform has energized Noureddine for his overarching plan to start the payment and banking services, as according to Tayebi’s thesis on African people, 57% of the population doesn’t have any bank account. Tayebi disclosed that the on demand services on food and transportation was used by him as the entry point to gain the trust of users and to win their hearts.
The co-founder and CEO of YASSIR, Noureddine Tayebi said that in Arabic, ‘Yassir’ means ‘easy’ and as a company their mission is also to make the lives of people as easy as possible.
Plans to Execute the Grabbed Capital
As per the company’s information, the fresh proceeds will be deployed in the expansion plans of YASSIR platform in the entire Africa and Middle East, where it is the most highly valued and admired startup among others.
The Stanford Alumnus, Noureddine Tayebi said that they already have an appreciable impact on the workings and uses of people’s day to day lives, that how they manages all those thing but only in their operated markets and now they are looking forward to expanding their existence into other extended geographies to become the very 1st super app which have achieved the adoption by the mass.
In an interview with techcrunch, the Chief Executive of YASSIR said that from day one, their aim for the business model is the foundation of a super app and then getting into the payments. He said that at first, he observed that loads of people were without any bank account and the major reason behind this is the shady banking system of the country for various reasons.
He further added that then they came to a thought to provide an on-demand service for the people that can be able to solve their needs where people spend their money and they knew very well that if their plan executed in the right way, the user base could be available in a flooded way if they start to trust us, which was very reliable for offering payment services.
This year, YASSIR also closed a mega rounded investment of greater than $100M.
The all rounder app, specially designed to tackle the problems faced by the French speaking Africans, YASSIR has secured $150 million in series B funding led by BOND along with Dorsal Capital, DN Capital, Quiet Capital, Y Combinator via its Continuity Funds and Stanford Alumni Ventures. The total capital raised since inception by the supper app brings $193 million. The valuation of the company was still kept secret. The company said to use the new proceeds to expand the wings of their super app services for making it the very first mass used app.
Yassir is an African application that offers on-demand ride hailing, food and grocery deliveries, banking and payments services.
BOND along with Dorsal Capital, DN Capital, Quiet Capital, Y Combinator via its Continuity Funds and Stanford Alumni Ventures.
To expand the boundaries of Yassir in the entire Africa and Middle East.