Logistics platform Maad raised $3.2 M Seed funding to expand, launch new products

The Senegalese logistics platform Maad, which serves informal retailers, has successfully raised US $3.2 million in seed funding to support its expansion into new markets and the introduction of new products.

Fast-moving consumer goods (FMCG) suppliers and small retailers are directly connected by Maad. Its tech-driven solution enables retailers to order products from a one-stop shop with dependable delivery, competitive prices, and working capital loans.

Using this distribution infrastructure, the platform provides brands with additional high-value services like data, software, and advertising, distribution, and market research services.

Ventures Platform led Maad’s US $3.2 million seed round, which included both debt and equity. Seedstars International Ventures, Reflect Ventures, OuiCapital, Launch Africa, Voltron Capital, and Alumni Ventures also participated. Local banks and Proparco took part in the debt financing.

“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.

Significant accomplishments have already been made by the business, which is currently running close to breakeven. These include working with more than 80 suppliers, providing a catalog with over 1,000 SKUs of household brand products, and reaching a monthly GMV of US $3 million. Maad intends to use the money to start in a second Francophone African nation, provide financial services like “buy now, pay later” via a digital wallet, and further penetrate and dominate the Senegalese market.

“Maad’s innovative approach to digitising the informal retail sector in Francophone Africa has the potential to create a significant impact on 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.”