Maad, a Senegalese B2B e-commerce startup, announced that it has secured $3.2 million in debt-equity funding to spearhead its expansion across the West African region. Led by Ventures Platform and supported by a consortium of investors including Seedstars International Ventures, Reflect Ventures, and Oui Capital, Maad’s recent funding round marks a pivotal moment in the company’s exploration in the wider Francophone region.
Founded by Sidy Niang (CEO) and Jessica Long (COO) in 2020, Maad initially entered the market as a data collection provider before pivoting to tackle the complex distribution challenges faced by FMCG suppliers. Recognizing the need for a comprehensive solution, Maad developed an end-to-end distribution platform that empowers informal retailers to source fast-moving consumer goods directly from partner suppliers. This innovative approach addresses critical issues such as stockouts and the high cost of inventory, which are pervasive in traditional distribution models characterized by multiple layers of dealers.
Maad’s success lies in its customer-centric approach and streamlined operations. Customers can easily place orders through the startup’s call center, field agents, or the user-friendly app. Notably, the app accounts for 75% of orders, underscoring its popularity among retailers. By leveraging its warehouses and in-house delivery service, Maad ensures cost efficiency and maintains consistency in service delivery—a testament to its commitment to reliability.
With a growing network of 6,500 active retailers and 80 suppliers, Maad has emerged as a pivotal player in Senegal’s retail landscape. Through strategic partnerships and exclusive access to products, Maad empowers informal retailers and strengthens their role as vital channels for manufacturers. By embracing data-driven insights, the startup equips suppliers with valuable information to drive informed business decisions while addressing inventory sourcing and financing challenges for retailers.
Despite the inherent challenges of the B2B e-commerce sector in Africa, Maad has defied the odds and positioned itself as a market leader. While other players have faced setbacks, Maad’s resilience and innovative business model have enabled it to thrive in a competitive landscape. With plans to expand its coverage within Senegal and venture into new markets within the Francophone region, Maad is poised to usher in a new era of retail excellence.
