Algerian ride-hailing startup TemTem announced that it has raised $4 million for expansion into other parts of the country. The investment was led by Tell Venture Automotive and other undisclosed investors. TemTem claims it is the largest Series A investment raised by an Algeria startup
This investment brings total investment raised by TemTem to $5.7 million when you consider the $1.7 million seed round raised over a year ago.
The Algerian startup was founded last year by serial entrepreneur, Kamel Haddar. The company offers ride-hailing services (of regular taxis, different types of cars, and bikes) to individuals and businesses in Algiers, Oran, and Constantine.
The ride-hailing service intends to use the new investments to expand into other areas of Algeria and also launch two new innovative services centered around improving the daily lives of Algerians.
According to Kamel in a discussion with MENAbytes, “We are going to first and foremost focus on boosting growth by diversifying our products, scaling up our marketing campaigns, in particular with the help of a major telecom company, and recruiting top talents. The goal is clear: to become the market leader.”
TemTem also prides itself on assisting its drivers to ensure they provide the best kind of service. They provide drivers with discounts on TemTem, car insurance, after-sale service with car manufacturers, and different benefits for their families.
Kamel Haddar, commenting on this, said, “Our drivers 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 dedicated health insurance.”
Yacine Maireche, General Manager of Tell Venture Automotive, said, “Algeria and Africa represent great opportunities of growth for TemTem. We are delighted to team up with TemTem to support its growth and help improve customer mobility.”
TemTem currently has a staff strength of 40 and has served over 200,000 customers to date and has over 4,000 drivers in its network
