Algerian Startup secured USD 1.7 million in 1rst round of Funding

TemTem, an Algeirs-based ride-hailing startup has raised $1.7 million in seed funding, their team told MENAbytes. Founded earlier this year by a serial entrepreneur, Kamel Haddar, TemTem’s ride-hailing services are currently available in Algerian capital Algeirs and the coastal city Oran that is second largest of the country in terms of population.

It is the largest ever investment raised by an Algerian startup.

Kamel Haddar, the founder and CEO, speaking to MENAbytes has said that the funding came from an angel investor.

Since launching in March earlier this year, the startup already has over 45,000 users who are using TemTem’s mobile apps to book 70,000 rides every month, said Kamel. They currently have over 1,000 drives on their network with tens of new ones being added on daily basis.

Speaking about the investment, he noted, that they will use it to accelerate the development and expand into ten new cities within the next few months including Constantine and Setif.

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                                                                                      https://www.menabytes.com/temtem-1-7-million/