Yassir the VTC app that makes life easier for North Africans
While Uber can congratulate itself on maximizing the connectivity of its users, the tech giant is hiding its Achilles heel. It doesn't operate all over the globe. In the Maghreb: Algeria, Tunisia and Mauritania are still deprived of the famous platform's services. In this area, start-up Yassir has taken over from the leader in VTC services, and is now the most valued start-up in Africa and the Middle East.
Distances are shrinking as satellite guidance services expand. By 2022, over 4 billion people will be using GPS on a daily basis. In this increasingly connected world, users dream of the gift of ubiquity: moving from one place to another at the snap of a finger... or, more accurately, at the click of a button. The geniuses of computer science and entrepreneurship have succeeded in making this wish come true with the implementation of VTC services, now at their peak. While in the second quarter of 2023, Uber recorded a net profit approaching $400 million, a local mobile application continues to develop and could well overshadow the famous multinational.
Yassir: order, travel, invest...
Created in 2017, Yassir - which means "easy" in Arabic - has revolutionized the lives of Algerians. While its road network stretches over 130 kilometers, this North African country suffers from an insufficient supply of transport. To make up for this shortcoming, the Algerian start-up, initially specialized in booking private chauffeurs, has decided to democratize its services on both iOS and Android. Thanks to a geolocation system, Yassir connects users with cab drivers. The fare is then determined according to the distance and duration of the journey.
Like Deliveroo or Uber Eats, Yassir focuses part of its activities on home delivery: food, cosmetics, gaming or parapharmacy, nothing is too good for consumers. The spectrum of sectors available on the application is extremely broad. Meriem, a loyal user, happily confides: "I use it every day to go shopping, visit my family or go to work, and I've never been disappointed. To top it all off, Yassir also provides financial services.
The meteoric rise of an Algerian start-up
When the company was founded, the team consisted of just six employees. In just one year, the company's ascent has been meteoric: forty-five employees and the start of its regional roll-out, such as in Morocco and Tunisia. The platform is supported by over 50,000 partners in North Africa. Yassir saw the economic and strategic opportunity presented by the market in this geographical area, where the road network - inherited from the colonial past of Algeria, Morocco and Tunisia - has the advantage of being more extensive than on the rest of the African continent.
The economic value of Yassir shines through in the diplomatic world
The fruit of the joint efforts of Algerian engineers Noureddine Tayebi and Mahdi Yettou, Yassir continues to prosper. In November 2022, Yassir closes a second round of financing of $150 million with the participation of US technology company BOND, DN Capital, Dorsal Capital, Quiet Capital, Standford Alumni Ventures and Y Combinator. This spectacular influx of cash elevates the company to the rank of "most valued start-up in North Africa and the MENA region" (Middle East and North Africa). Yassir's undeniable success also earned it the title of "best services exporter" from Algerian President Abdelmadjid Tebboune.
One year later, in August 2023, Yassir formalized his partnership with Paris-Saint-Germain (PSG) soccer club for the next three seasons. This ground-breaking contract is expected to generate 15 million euros for PSG, whose aim is to strengthen its brand image in Middle Eastern countries. The agreement with Paris Saint Germain would not have been possible without the backing of the Qatari government, the club's owner.
This underlying diplomatic dimension partly explains the expansion of this seasoned start-up. The Algerian president has already visited Qatar twice, and relations between the two countries remain cordial. Indeed, it is in Algeria's interest to keep the peace with the states in the region if it wishes to maintain its international appeal. Last July, a Malaysian ministerial delegation, accompanied by representatives of the country's investment banks, visited the capital to present the success story of the young start-up, now headquartered in the heart of Silicon Valley.
At the outset, the VTC application made in Algeria set itself the main objective of bringing its community together, while spreading social values. Today, the platform boasts five million users and an international footprint that includes Canada, Côte d'Ivoire, France, Germany, Morocco, Tunisia, Senegal and North Africa. Yassir is a fine example of success for all Algerian entrepreneurs who are still hesitating to take the plunge.
Sources:
https://economic-research.bnpparibas.com/html/fr-FR/Algerie-Effet-aubaine-13/04/2023,48461
https://www.24heures.ch/uber-parvient-enfin-a-etrerentable-248786359955#::text=Au%20deuxième%
20trimestre%202023%2C%20Uber,tôt%20à%20la%20même%20période)
https://express.yassir.io
https://www.lemonde.fr/afrique/article/2022/11/08/en-algerie-la-start-up-yassir-leve-150-millions-deurospoursonexpansion_
6148951_3212.html#:text=Yassir%2C%20qui%20opère%20via%20une,de%208%20millions%20d%27utilisateurs.
https://www.jeuneafrique.com/1473339/societe/lalgerien-yassir-signe-un-partenariat-avec-le-psg
https://www.linkedin.com/company/yassir
https://fr.wikipedia.org/wiki/Yassir
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