Senegalese logistics startup Maad raises $3.2 mn

The African tech & logistics platform for informal retailers Maad announced the successful completion of its $3.2 million seed funding round (debt & equity).

The seed funding round was led by Ventures Platform, with participation from Seedstars International Ventures, Reflect Ventures, OuiCapital, Launch Africa, Voltron Capital & Alumni Ventures. Proparco and local banks.

Maad is a tech & logistics platform that directly connects suppliers and small retailers of Fast Moving Consumer Goods (FMCG).

Their tech-driven solution allows retailers to order products from a one-stop shop, with reliable delivery, competitive prices while benefiting from working capital loans.

Maad is on a mission to transform the retail landscape in Francophone Africa, where 80% to 95% of consumption still takes place in informal mom-and-pop shops.

Sidy Niang, co-founder & CEO of Maad: "As the fastest-growing player in the region, we are well-positioned to maintain our leadership and continue driving transformation in this underserved market."

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