Algerian travel-technology company Völz has raised 600 million Algerian dinars (approximately $5 million) in a Series A funding round, marking one of the largest startup financing rounds denominated in local currency and a notable milestone for the country’s nascent tech ecosystem, the company and investors announced this month.
The round was led by local private investor consortium Tell Group, with participation from Groupe Industriel Babahoum Algérie (GIBA), signalling growing interest from established domestic capital into technology ventures.
The financing was unveiled in December at the African Startup Conference in Algiers, where Völz also highlighted that the deal represents the first successful exit for the state-backed Algerian Startup Fund (ASF), which achieved an estimated 3.35 times return on its initial investment.
Founded in 2022 by entrepreneurs Mohamed Abdelhadi Mezi and Hacene Seghier, Völz operates an online travel booking platform designed to overcome structural constraints in the Algerian market. The service enables users to search and compare international flights and pay in Algerian dinars, addressing challenges tied to foreign currency payments. The platform also offers cash-on-delivery and offline payment options to broaden accessibility in a market where digital payments and banking penetration remain uneven.
Company executives said the newly secured capital will be used to automate backend systems, reduce booking errors, expand the engineering team, and enhance product offerings. Alongside the funding, Völz announced a commercial partnership with Turkish Airlines to access corporate rates and expand into higher-margin B2B travel services.
Industry analysts view the transaction as a significant signal for Algeria’s startup landscape, demonstrating that local investors and public venture vehicles can generate liquidity and returns, which could encourage deeper private capital engagement in scaling homegrown tech ventures.
Völz’s founders said the round positions the company to broaden its footprint within Algeria and explore expansion into other African markets, as it aims to become a leading regional travel-tech platform.
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