Maad Secures $3.2 Million to Expand Across West Africa
Senegalese B2B e-commerce startup, Maad, has announced a significant milestone with the securing of $3.2 million in debt-equity funding. Led by Ventures Platform and supported by a consortium of investors including Seedstars International Ventures, Reflect Ventures, and Oui Capital, this funding round signals Maad’s ambitious expansion plans across the wider West African region.
Founded by Sidy Niang (CEO) and Jessica Long (COO) in 2020, Maad initially focused on data collection services before pivoting to address the complex distribution challenges within the FMCG sector. Recognizing the need for a comprehensive solution, Maad developed an end-to-end distribution platform empowering informal retailers to source fast-moving consumer goods directly from partner suppliers.
Customer-Centric Approach and Streamlined Operations
Maad’s success is attributed to its customer-centric approach and streamlined operations. Through its call center, field agents, and user-friendly app, customers can easily place orders, with the app accounting for 75% of orders. Leveraging its warehouses and in-house delivery service ensures cost efficiency and reliability, enhancing the overall customer experience.
Empowering Retailers and Strengthening Supplier Partnerships
With a network of 6,500 active retailers and 80 suppliers, Maad has become a pivotal player in Senegal’s retail landscape. Through strategic partnerships and exclusive product access, Maad empowers informal retailers while strengthening their role as vital channels for manufacturers. By embracing data-driven insights, Maad equips suppliers with valuable information to drive informed business decisions and address inventory sourcing and financing challenges for retailers.
Thriving in a Competitive Landscape
Despite challenges in the B2B e-commerce sector in Africa, Maad has thrived due to its resilience and innovative business model. With plans to expand coverage within Senegal and venture into new markets within the Francophone region, Maad is poised to lead a new era of retail excellence.
Leave a Reply