Introduction
Algeria’s Yassir, a digital services and payment company, has announced that it has raised $30 million in a Series A funding round to build a super app in North Africa. The funding was led by Magellan Strategies, with participation from Keneo Ventures and Bonfire Ventures and several angel investors.
Algeria’s Yassir hopes to leverage its new funds to build out its existing platform, which currently offers an online payments, digital wallet and chatbot-based customer service tool. The company plans to expand those offerings, adding more retail shopping and food delivery features.
The super app will be available on both Android and iOS platforms. Algeria’s Yassir expects the app to help it reach more customers in the North African market by servicing them conveniently and efficiently. Additionally, the company plans to use the funds for marketing activities such as paid advertising campaigns to increase usage of its platform.
Algeria’s Yassir picks up $30M to build a super app in North Africa
Yassir, a leading startup in Algeria, has closed a $30M Series A round to build a super app in North Africa.
Led by prominent investors including African co-investment firm AfricInvest, the new funding will help Yassir expand its presence across the region.
The deal marks a milestone in the Algerian tech ecosystem and is a regional startup’s largest Series A raise.
Overview of the $30M funding
Yassir, an Algerian super app developer, recently secured a $30 million Series A funding round led by Japan’s messaging giant Line Corp. and UK-based Partech Ventures, with participation from Blanca Ventures and Global Founders. This investment marks a major milestone for Yassir: the company will use this capital to bankroll its ambitious mission of unifying North Africa and creating the region’s most robust digital economy.
The funds are primarily intended for product development and expansion in North Africa’s emerging digital markets – Algeria, Tunisia, Morocco and Egypt – which Lagardère Live CEO Serge de Gheldere has dubbed “the next mobile superpower” due to the region’s immense population (over 400 million people). The success of the round is a testament to Yassir’s impressive growth so far — 6 million users have already downloaded its first app, Yallow Shopping App — as well as management’s strong commitment to building out a platform that adds an array of features while centralizing services at the same time.
Investors involved in the funding
The new funding boost is set to accelerate Yassir’s journey towards becoming the North Africa region’s first super app. Investors including partech, iMena Holdings, Endure Capital and Duch//Fintech have joined forces to strategically invest in Yassir’s vision of creating an unparalleled, mobile-led experience that provides users with a range of services.
Partech Ventures is a global venture capital fund with operations outside the US, UK, France and Germany. It focuses on investments valued at $500K to $30M in growth or early stage in areas such as mobility, artificial intelligence, big data and digital marketing.
iMena Holdings partners with startups and emerging companies across diverse industries to provide them with capital and operational expertise. The company has experience investing in markets as diverse as Egypt, Southeast Asia and Nigeria.
Endure Capital is a green tech-focused venture capital fund founded by entrepreneur Nissan Bahar and funded by World Bank Group’s IFC Venture Global E&P Fund. Its portfolio spans markets including Mexico City, Singapore and Casablanca where it has seen success building innovative businesses in the transportation services market.
Duch // Fintech is an investment fund focused on FinTech companies located within emerging markets such as Egypt, Saudi Arabia, Iraq and Algeria where it focuses on improving access to financial services for law-abiding citizens who lack access to traditional banking options due to geopolitical factors or lack of income documentation requirements for opening bank accounts As part of its investment strategy it prioritizes companies that enable customer identification through digital methods like facial recognition or biometrics or which are involved in the production and utilization of digital assets such as cryptocurrencies.
Yassir’s Business Model
Yassir, a Tunisian fintech startup, is looking to capitalize on North Africa’s tech boom by raising $30 million to build a super app in North Africa.
Yassir’s business model will combine payments, delivery, and travel in one app, aiming to help people in North Africa access better services and products.
Let’s look at Yassir’s business model and how it works.
Overview of Yassir’s super app
Yassir, a startup from Algeria, has raised $30 million in Series A funding to build a super app similar to China’s WeChat and India’s Jio App. This super app provides users with an extensive range of services — including transportation, payments and other on-demand services — accessible through one unified platform.
This cutting-edge initiative aims to become the leading digital platform for North Africa. It offers marketplaces for professionals and provides key resources such as financial services, digital payments, and customizable content. All product lines offered by Yassir are powered by Artificial Intelligence (AI).
Yassir is an innovative solution that completely redesigns how Algerian users engage with their digital identity. Besides the usual chatting and messaging features, the application also includes AI-powered chatbots that offer professional advice related to different products or services including legal aid or tax issues. Moreover, Yassir can leverage its broadcasting system that serves customers with rich media content such as video calls, audios, live concerts or podcasts tailored to their interests.
To boost its presence in the region Yassir is rapidly expanding through Algerian business hubs in other countries across North Africa while also investing heavily in local talent acquisition and technical development – furthering its vision of becoming a regional tech anchor for starters across all oases in Northern Africa who are ready to jump on board their journey towards economic prosperity through advancements in technology.
Services offered by the super app
Yassir is a North African super app serving users in 18 countries across the continent, providing a range of services beyond just payments and money transfer. The app seeks to simplify users’ everyday lives by offering different products and services, from e-commerce to bill payment.
The app’s super-app model allows people to use it as a one-stop shop, making transactions and access all related services quickly and conveniently. Commonly used services on the app include:
-Payments: This service allows users to store their cards securely in the wallet feature of the app and make payments for goods or services within the Yassir ecosystem without leaving their phones. P2P payments are also possible with this feature.
-Mobile Top-up: This feature enables Yassir customers to recharge or top up their mobile devices with credits directly from the Yassir app just by following some simple steps for each operator in each country without needing any vouchers or physical cards. It is fast, secure, and reliable.
-Money Transfer & Cash Out: Through Yassir’s Money Transfer Service, customers can send or receive money directly from within the app, including international transfers at competitive rates. Additionally, cash can be withdrawn by going to authorized outlets across North Africa through its Cash Out Feature. Users are allowed up to five monthly outputs with no minimum amount limit necessary per output period of 24 hours.
-Utilities Payments & Bills Payment: Customers can pay all kinds of utility bills such as electricity bills, phone bills etc., in a fast and convenient way right from within the Yassir App itself thanks to its partnered merchants / billers list that helps track people’s outstanding bills easily just by entering person’s phone number/national ID number/username used while registering via any Partnered Merchant/Biller listed on Yassir App which allows customers various payment methods such as bank transfer or simply using cards registered on user’s wallet page secured inside Yassir Platform for making prompt payments immediately without any hidden fees nor additional service taxes applied apart from taxes imposed on goods or energy related products fees when applicable requested (as allowed according to laws).
Yassir’s Expansion Plans
Yassir, an Algeria-based tech startup, recently announced it has raised $30M to build a super app for users in North Africa.
Yassir’s expansion into North Africa is part of a larger goal to expand its services throughout the region.
In this article, we will discuss Yassir’s expansion plans and its potential regional impact.
Expansion plans in North Africa
Yassir, a startup based in Algeria, has recently raised $30 million to develop and expand its super app throughout North Africa. Yassir is an all-in-one mobile app for payment, logistics and delivery services across the region, allowing people to easily order and receive food, beverages and other goods. In addition, Yassir’s super app aims to improve the delivery experience for customers by eliminating wait times at restaurants, shops or markets.
The $30 million in seed funding will be used to expand Yassir’s reach into Morocco, Tunisia and Egypt ready for the next wave of growth. As part of the expansion plans, the company is set to build a technology platform that connects local small businesses directly to customers via mobile devices empowering them to grow their businesses. Additionally, with data insights at its core, Yassir will use artificial intelligence (AI) technologies and analytics tools to better understand local customer needs and preference trends in each market.
These expansion plans aim to significantly increase convenience while also driving economic growth in North African countries by providing access to new revenue channels for local retailers using Yassir’s payment system. In this way companies can reach previously untouched segments of the population while enhancing their user experience through digital services.
Plans to expand to other markets
Yassir, a recently funded startup based in Algeria, plans to use its $30 million to build a comprehensive super app serving North Africa. The platform will lighten many daily tasks for users living in Algeria, Tunisia, Morocco and Libya by providing access to digital payments, ride hailing and online food ordering services.
The wide-reaching app aims to improve quality of life by leapfrogging traditional infrastructures and giving locals instant access to financial and logistical services that were previously difficult or expensive to obtain. There are also plans to expand Yassir’s offerings into other countries across the Middle East and Eastern Europe in the coming years.
In addition to providing users with the convenience of one-stop shopping, Yassir’s multi-service app hopes to level the competitive playing field between small businesses and larger corporations in North Africa. To this end, Yassir intends to distribute low-cost versions of its digital solutions (such as integrated payment systems) that can easily be tailored to all levels of society.
By wrapping financial services into an all-inclusive mobile platform, Yassir is making it easier than ever for people living in North Africa—and soon beyond—to take control over their daily lives.
Conclusion
Yasser’s journey is an insightful example of what can happen when technology, the right passion, and determination come together to build something that can revolutionize an entire region. Although it is still early days, Yassir has taken the right steps to build something that can make a lasting impact in North Africa.
This article explored Yassir’s journey and what it took to build an exciting super app in the region.
Summary of Yassir’s success
Yassir is a digital platform-building enterprise in North Africa that has been funded with $30M from Wind Ventures and Silicon Badia, along with investors from across the region. With its huge capital injection, the company plans to provide users access to payment solutions, e-commerce, travel/tourism, entertainment and more. This will make it possible for Algeria and other North African citizens to have all the convenience of a super app without leaving their home or country.
The ultimate goal is for Yassir to be an all-in-one platform that marries services across the continent into one centralized location. Yassir also appears to have a social mission — CEO Diouane Lade said his app will operate on “moral culture”, prioritize community development in Algeria, and offer subsidized prices in local currencies where applicable. This focus could be crucial in tipping the scales towards Yassir’s success as it competes against other digital services like Airbnb and Uber Eats to become top choice amongst Algerians looking for quick and easy access.
Outlook for Yassir’s future
The future looks bright for Yassir, as it is quickly gaining traction amongst users in the region and is well on its way to becoming a household name. Its various features, ranging from a payments gateway to food delivery services, appeal to a broad population segment and are expected to be further enhanced over time as the app evolves. Additionally, with its team of experienced entrepreneurs driving growth and innovation, Yassir looks primed to become one of the biggest tech successes in North Africa.
Given Yassir’s track record of successful business deals with investors who have invested substantially in the venture, there is potential for additional investments down the line that will allow Yassir’s concept and vision to spread even further across North Africa. With increased funding and support from key influencers in the region, there’s no telling just how far Yassir could go over time as it becomes an increasingly important platform for millions across North Africa.