Senegalese logistics platform Maad, which focuses on informal retailers, has raised $3.2 million in seed funding to expand both domestically and internationally and to launch new products.
Maad directly connects suppliers with small retailers of fast-moving consumer goods (FMCG). Its tech-driven solution allows retailers to order products from a one-stop shop, ensuring reliable delivery, competitive prices, and access to working capital loans. Additionally, Maad leverages its distribution infrastructure to offer brands high-value services such as data, software, and tools for advertising, distribution, and market analysis.
The $3.2 million seed round, comprising both equity and debt, was led by Ventures Platform with participation from Seedstars International Ventures, Reflect Ventures, OuiCapital, Launch Africa, Voltron Capital, and Alumni Ventures. Debt financing involved Proparco and local banks.
“Among startups operating in this space, Maad benefits from a clear first-mover advantage in Sub-Saharan Francophone Africa. We often say this is a blue ocean. As the fastest-growing player in the region, we are well-positioned to maintain our leadership and continue driving transformation in this underserved market,” said Sidy Niang, co-founder and CEO of Maad.
Maad has achieved significant milestones, partnering with over 80 suppliers, offering a catalog of more than 1,000 SKUs of household brands, and reaching a monthly GMV of $3 million while operating near breakeven. The company plans to use the funds to expand its presence in the Senegalese market, introduce financial services such as “buy now, pay later” through a digital wallet, and launch operations in a second Francophone African country.
“Maad’s innovative approach to digitizing the informal retail sector in Francophone Africa has the potential to significantly impact the lives of small business owners and consumers,” said Dotun Oloworopoku, managing partner at Ventures Platform. “We are thrilled to lead this investment round and support the Maad team as they work towards building a more efficient and inclusive retail ecosystem in the region.”