▸ The ride-hailing startup raised Algeria’s largest Series A funding.
▸ Tell Venture Automotive led the round with a few other private investors.
Launched in 2018, Algiers, Algeria-based logistics startup temtem has recently raised $4 million in a Series A round led by Tell Venture Automotive and a few other private investors. This marks the biggest Series A funding in Algeria until now.
The company will use the capital to accelerate growth and launch new products and services starting in 2019. A year after its seed round, temtem proves once again that it is able to convince investors and chose Tell Venture Automotive and private investors.
Today, temtem has all cards in hand to become the market leader in the Algerian mobility sector.
This new fundraising round confirms temtem’s competitive position, the relevance of its strategy, and investor confidence in its strong growth potential.
With this new capital, temtem, whose services cater to both consumers and corporates, will lunch two new innovative services centered around improving the daily lives of Algerians.
Since its inception in 2018, more than 200,000 clients have used temtem with a loyalty that demonstrates the quality of the client experience.
A few hundred corporate clients have also trusted temtem with improving the transportation experience of their employees to which temtem provides a full range of product such as private chauffeurs, delivery services, motorcycle ride-hailing, etc.
“We are going to first and foremost focus on increasing 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”
– Kamel Haddar, Founder & CEO, temtem
From now on, having meticulously analyzed its customers and partners’ expectations, and having contained its growth in order to control its development, the temtem team is ready to serve the ambitious vision of the company by entering a decisive phase of exponential growth.
Thus, to ensure the expected growth, a driver-partner procurement mobile application (developed internally in Algeria) will be launched by the end of the month. temtem will then be able to ensure the rigorous selection of thousands of skillful partners, whose common goal – and this since the first recruit – is the safety of passengers and the quality of the delivered service.
Driver-partners’ status is a major concern for temtem, whose aim is to provide the best working environment possible for them: exclusive discounts on temtem, car insurance, after-sale service with car manufacturers, various benefits for their families, etc.
“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 a dedicated health insurance,” says Kamel Haddar.
temtem’s data science team specifically focuses on modeling the use of its users with the goal of ever-improving the customer experience and to more precisely pinpoint market needs in order to better match them by the end of the year.
At the same time, temtem will strengthen its collaboration with strategic partners in the telecommunications and audiovisual industry. The goal is to democratize a unique service, already acclaimed by customers looking for a daily service with the best quality and at the best price.
temtem, an Algerian root, an African vision
temtem is also aware of the continent’s demographic stakes: the African urban population will double in the next 20 years, to reach the billion inhabitants in the cities in 2040.
According to the World Economic Forum, 25 to 45 percent of urban Africans walk to work because of the lack of affordable transportation.
Thus, the Algerian start-up plans to respond to this crying need for mobility by deploying its innovative services in other African countries.
“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”
– Yacine Maireche, General Manager, Tell Venture Automotive
A new round of fundraising is already initiated by Tell Venture Automotive to support growth in Algeria as well as in the African continent during the year 2020.
“International expansion has always been in temtem’s mid-term development outlook, once Algerian market’s impulses has been confirmed. temtem wants to respond concretely to urban public issues, such as the decongestion of cities in Africa.”
– Kamel Haddar, Founder & CEO, temtem
ⓘ Source: Magnitt