Senegalese logistics platform Maad, which caters to informal retailers, has successfully raised $3.2 million in seed funding to fuel its domestic and international expansion and introduce new products.

Maad connects suppliers and small retailers of fast-moving consumer goods (FMCG) through a tech-driven solution, allowing retailers to order products from a one-stop shop with reliable delivery, competitive prices, and access to working capital loans.

Leveraging its distribution infrastructure, Maad also offers additional high-value services to brands, including data analytics, software solutions, and services for advertising, distribution, and market insights.

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. Proparco and local banks contributed to 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.

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Maad has already achieved significant milestones, including partnering with over 80 suppliers, offering a catalogue of over 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 further expand within the Senegalese market, introduce financial services such as “buy now, pay later” through a digital wallet, and launch operations in another Francophone African country.

“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.”