Founded by an Algerian in 2017, Yassir is an on-demand transport application (VTC) that has extended to other services. With a starting capital of 10,000 dollars, Noureddine Tayebi was able to develop it to enable it to be the “most valuable start-up in North Africa”.
But who is Noureddine Tayebi, and how did the Yassir project come about?
Nourredine Tayedi: the entrepreneur full of ambition
Nourredine is a 45-year-old Algerian entrepreneur, son of doctors. After studying at the Polytechnic School of Algiers, he applied for numerous American scholarships in the 1990s. This is where a prestigious university and then professional career followed one another. Indeed, the young man integrates Stanford, a great American university and after obtaining his doctorate he is hired by the research and development laboratory of Intel (world number one in the manufacture of processors).
But the young Algerian full of ambition does not stop there and thanks to the experience he acquired during his studies he decided to take the plunge and launch his startup.
Nourredine tackles the Algerian market
Nourredine did not choose the easy way. He could have continued to evolve in his career or launched a business whose model had already proven itself in Algeria, but no. He decided to tackle a virgin market, the on-demand transport service in Algeria.
The demand was there, and the supply absent. Nourredine responded by finding a solution to one of the most crippling problems of daily life, the lack of transport. Quickly nicknamed “the Algerian Uber”, it works the same way. Drivers are paid through commission on each trip. The launch of Yassir was a great success, responding to several needs such as the lack of transport, in addition to job creation
The machine is launched
The startup is all the rage and the success is instantaneous. With the arrival of Covid-19 Nourredine is developing its offer and offering home delivery (meals and shopping). Like every time someone comes up with something innovative, there is misunderstanding. According to Le Monde Nourredine affirms:
“They thought I was crazy. They tried to dissuade me. I was told it would never work”.
In fact, his ambition paid off. Customers were there and demand continued to rise. Beyond this aspect, the startup has made real feats in terms of development and fundraising.
Yassir: 5th most funded startup in the Mena region
The startup raised $150 million in Series B funding from top-tier global investors last November.
Yassir therefore managed to raise $193.25 million during these 5 years, which makes it the most valuable startup in North Africa and one of the most valuable companies in Africa and the Middle East. .
Therefore, according to the classification made by Forbes Middle East Yassir ranks 5th in the Top 50 most funded startups in the Mena region (Middle East and North Africa).
