Algeria - (AFP) - The Algerian start-up company for taxi and delivery services announced, on Monday, that it had raised $150 million in capital from American investors to "expand its reach" in the Maghreb region and Europe.

The company was founded by Algerian engineers Noureddine Tibi and Mehdi Yatto five years ago, and quickly gained great popularity in the Maghreb region thanks to its fully developed application in Algeria.

And its spread increased even more after it mobilized $ 30 million from American investors at the end of 2021.

And the company stated in a statement that the total amount it was able to mobilize during the five years of its launch amounted to “1936.25 million dollars, to become the most valuable startup in North Africa and one of the most valuable companies in Africa and the Middle East.”
And she continued, “With this gathering of capital, she intends to expand her reach in the region” and even enter Europe through the France portal “soon,” as she announced on her official website.

Since its launch, Yasir has created more than 40,000 indirect jobs (drivers and delivery workers). The application records a steady increase from 20 to 40% in its monthly sales figures, according to a previous statement to AFP by the company's CEO, Noureddine Tibi.

The company stated that it is currently "present in six countries and 45 cities, with more than 8 million users in Algeria, Morocco, Tunisia and parts of French-speaking Africa" such as Senegal.