Super app Yassir, located in Algeria, has secured US $150 million in Series B investment to broaden its regional reach.
Yassir is a smart app that offers its customers a variety of services, including ridesharing, food delivery, and banking services. It was founded in 2017 by Noureddine Tayebi and El Mahdi Yettou. It has more than eight million users and operates in 45 locations across six different nations.
BOND served as the lead investor in the $150 million Series B fundraising round for the company, which also included strategic backers DN Capital, Dorsal Capital, Quiet Capital, Stanford Alumni Ventures (formerly known as Spike Ventures), and Y Combinator. With this round, Yassir has now collected US $193.25 million in fundraising, making it the most valued startup in North Africa, according to the company.
Yassir intends to increase its presence in the area with the help of this most recent round of finance.
“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.”
General partner at BOND Daegwon Chae stated that his company thought technology will “fundamentally rearchitect” how customers relate to basic necessities like food, transportation, and financial services — not just in affluent nations, but everywhere in the globe.
“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.
