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Senegalese Retail Tech Startup Maad Secures $3.2 Million in Seed Funding to Fuel Expansion and Innovation

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Maad, a Senegalese logistics platform catering to informal retailers, has secured $3.2 million in seed funding.

This investment will fuel the company’s domestic and international expansion plans and launch of new products.

Maad bridges the gap between suppliers and small retailers of everyday consumer goods (FMCG).

Their technology platform empowers retailers with a one-stop shop for ordering products, ensuring reliable delivery and competitive prices. Additionally, Maad offers working capital loans to support these businesses.

Beyond its core distribution network, Maad leverages its infrastructure to provide high-value services to brands.

This includes data analysis, software solutions, and support with advertising, distribution, and market insights.

The funding round, a mix of equity and debt, was led by Ventures Platform.

Other participants include Seedstars International Ventures, Reflect Ventures, Oui Capital, Launch Africa, Voltron Capital, and Alumni Ventures. Local banks, alongside Proparco, contributed to the debt financing.

“Maad enjoys a significant first-mover advantage within the Sub-Saharan Francophone African market,” said Sidy Niang, Maad’s co-founder and CEO.

“This largely untapped market presents a tremendous opportunity. As the region’s fastest-growing player, we’re well-positioned to solidify our leadership and drive transformation.”

The funds will be used to solidify Maad’s dominance in the Senegalese market and expand into a second Francophone African nation.

“Maad’s innovative approach to digitizing Francophone Africa’s informal retail sector has the potential to significantly impact small business owners and consumers,” stated Dotun Oloworopoku, managing partner at Ventures Platform.

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