The startup will use the capital to launch new products and services, as well as focusing on operational growth.
Temtem, an Algiers-based ride-hailing and transportation startup has raised a Series A funding round investment of $4 million from Tell Venture Automotive and other undisclosed investors. The investment round has become the largest ever Series A funding for Algerian startups. Temtem plans to use the fresh funds to accelerate their growth and launch new products and services during the current year.
“We are going to first and foremost focus on increasing growth by diversifiying our product, scaling up our marketing models, in particular with the help of a major telecom company, and recruiting top talents. The goal is clear: to become the market leader,” says Kamel Hadder, Temtem’s CEO and founder.
Established in 2018 with over 200,000 clients, temtem’s services cater to both consumers and corporates and focuses on improving the daily lives on Algerians with its innovative services. Additionally, this new fundraising round puts temtem on a competitive pedestal as more investors believe in the relevance of its strategy and grow confidence in its strong market potential.
After carefully analyzing its customer and partners’ expectations for the startup, the recent push of growth serves as part of temtem’s ambitious vision of the company. In terms of innovative growth, a driver-partner procurement mobile application will be launched by the end of the month.
Then, Temtem will be able to ensure a fulfilling recruitment processes where thousands of skilled partners will be selected to provide a safe and high-quality service to the passenger. Temtem puts an emphasis on the driver-partner status where it’s an obvious choice to provide the best working environment possible for them by handing out perks such as exclusive discounts, car insurance, and other company-based benefits.
“Our drives are the backbone of our business. It is essential to value them and give them concrete perspectives in their daily lives. This is also why our partners and their families will soon be able to subscribe to a dedicated health insurance plan,” says Hadder.
Temtem will simultaneously strengthen its collaboration with strategic partners in the region’s telecommunication and audiovisual industry to democratise their unique service. The startup plans to expand throughout the region in part with its mission to support the African vision and provide its innovative mobility solution to other African countries.
“Algeria and Africa represent great opportunities of growth for Temtem. We are delighted to team with temtem to support its growth and help improve customer mobility,” says Yacine Maireche, General Manager of Tell Venture Automotive.
“International expansion has always been in Temtem’s mid-term development outlook. Temtem wants to respond concretely to urban public issues, such as the decongestion of cities in Africa,” adds Haddar.
A new round of fundraising has already been set up by Tell Venture Automotive to support the newly-founded growth in Algeria as well as the African continent during 2020.
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