YoLa Fresh shuts down after Series A falls through

CASABLANCA — YoLa Fresh is shutting down after failing to raise a Series A, closing out roughly $9 million in disclosed lifetime funding.

Co-founders Larbi Alaoui Belrhiti, formerly chief executive of Jumia Morocco, and Youssef Mamou, a former Careem and Uber executive behind the 212 Founders program, confirmed the closure. The agritech, which moved fresh produce from farmers to retailers, counted more than 1,000 retailers and about $1 million in monthly gross merchandise value.

The founders pushed back on a circulating $20 million figure, putting disclosed funding at $9 million: a $2 million round in March 2023 and a $7 million pre-Series A in May 2024. Backers included Al Mada Ventures, which held a controlling stake, alongside Algebra Ventures, E3 Capital, Janngo Capital and FMO.

The failure mode is the story. YoLa Fresh had revenue, logistics and institutional backers, yet could not find a follow-on lead in a market where Series A capital is scarce. Morocco's agritech pipeline now has its most visible casualty of the follow-on valley of death.

Watch where the founders and the retail network land, and whether Al Mada recycles the infrastructure into another portfolio bet.

Launch Base Africa first reported the closure.