Yassir, an Israeli startup that provides cloud computing services, has raised $30 million in a Series A round of funding Serieswilhelmtechcrunch. The company has been growing rapidly since it was founded four years ago. It plans to triple the size of its engineering team and generate revenue by taking a commission on the services it provides.
Yassir raises $30 million in Series A round
Yassir, an on-demand transportation platform, raised $30 million in Series A funding. Founded in Algeria in 2016, the startup has a presence in six countries, including Morocco, Tunisia, and Algeria. It connects merchants, suppliers, and drivers. In addition to providing ride-hailing services, the platform offers last-mile delivery. The company claims to have over 3 million users.
Yassir’s main goal is to expand its operations throughout North Africa and other areas. Currently, the startup operates in 45 cities in Algeria, Morocco, and Tunisia. As a result, it works with 40,000 partners in these countries. However, the company plans to launch services in other regions in the near future.
According to a recent report, the majority of Africans lack bank accounts. Yassir targets unbanked people and businesses. Through a mobile banking solution, the company believes it can improve access to financial services for customers in Africa.
The company has seen exponential growth since launching four years ago
Yassir is a multi-sided marketplace where merchants and consumers interact. Among the company’s offerings are ride-hailing, food delivery, and payment services. In fact, the company is the first of its kind in Algeria. It has more than eight million customers across the country, and plans to expand its footprint in the coming years.
Founded by Mahdi Yettou, a former entrepreneur and venture capitalist, Yassir was launched in Algiers in 2017. The company has since expanded to 25 cities in six countries including Morocco, Egypt, Tunisia, and Libya. As a testament to its success, it has indirectly created more than 40,000 jobs in its home country.
Yassir is a great example of a company that is able to leverage local talent to build a national brand. In the past, technical talent often migrated overseas to find work. Now, Yassir has its fingers in many pies by creating subsidiaries in every country, managing territories independently, and working in conjunction with its wider network.
Yassir plans to triple the size of its engineering team
Yassir, the on demand transportation platform from the desert sands, has raised a cool $30 million in Series A funding. The company, which started in 2017 with a hefty budget, aims to dominate the local competition in the transportation sector. Yassir will be using the funds to expand into new markets and bolster its existing operations in the North African country.
Yassir’s biggest competition is Uber in Morocco, and the startup is tasked with catching up with the big boys. Unlike Uber, Yassir hasn’t given up on the idea of providing on demand, door to door, and on demand chauffeured rides. Despite its relative youth, Yassir has seen impressive growth since its inception. With over 40 subsidiaries in five countries, Yassir is in the business of bringing the latest and greatest mobile technologies to the masses Magazinefacts.
Yassir generates revenues by taking a commission on services it offers
Yassir, the ride-hailing service based in Algeria, is expanding its operations across North Africa and beyond. The app connects drivers and couriers, merchants, and consumers. It has over three million users in 25 cities, and its revenue skyrocketed 40% a month.
Founded in Algiers in 2017, Yassir’s initial focus was on providing ride-hailing services. However, it’s expanded into other areas, including grocery delivery. The app now has over 40,000 partners and generates revenue from a commission on services.
As part of its growth strategy, Yassir recently secured a $150 million Series B fund from BOND. This round will help the company consolidate its position in the current markets and expand in new ones. Additionally, Yassir plans to triple the size of its engineering team Fashionworldnow.
Yassir’s business model
Yassir is a tech-driven business headquartered in the United States, with operations in four African countries. The startup offers ride-hailing and delivery services to customers in the Maghreb region. Its vision is to build a multi-sided marketplace where couriers, merchants and users can connect, thereby offering efficient digital banking solutions Fashioncolthing.
The startup has more than three million registered users. The service is available in 27 cities in four African nations. In fact, the company has a combined total of 450 employees.
In addition to its ride-hailing services, Yassir also provides last-mile delivery to consumers. It connects drivers and merchants, allowing customers to buy food and groceries from local stores. Users can pay for the goods using a Yassir wallet. Yassir also boasts a multi-million dollar revenue stream Fashionslog.