Algerian Super App Yassir Raises $150 Million in Series B Round

Yassir, an Algeria-based super app, has raised $150 million in a series B round led by BOND, with participation from DN Capital, Dorsal Capital, Quiet Capital, Stanford Alumni Ventures and Y Combinator, amongst other investors. 

Founded in 2017 by Noureddine Tayebi and El Mahdi Yettou, Yassir is a super app that provides users with a wide range of services including rideshare, food and grocery delivery, and financial services.

“Yassir means ‘easy’ in Arabic, and our mission as a company is to make people’s lives easy,” Noureddine Tayebi, Founder and CEO of Yassir, tells StartupScene. “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.” 

To date, Yassir operates in six countries including Algeria, Morocco and Tunisia and has over 8 million users. Through its financial service platform, Yassir aims to target customers in Africa who want to perform financial digital transactions via their mobile phones. According to a 2018 report by McKinsey & Company, more than half (57%) of Africa’s population do not have bank accounts, while 50% have mobile internet access.

The new funds will be used to further expand Yassir’s reach across the region.