A $3.2 million debt-equity investment round has been obtained by Senegalese B2B e-commerce startup Maad in order to support the company’s expansion within the country and investigate new prospects in the Francophone region of West Africa.
Seedstars International Ventures, Oui Capital, Launch Africa, Reflect Ventures, Voltron Capital, and Alumni Ventures were among the investors in the seed round headed by Ventures Platform. From local banks and the French DFI Proparco, it raised $900,000 loan finance.
With Maad’s end-to-end distribution infrastructure, mom-and-pop shops and other informal retailers can purchase fast-moving consumer goods (FMCG) directly from partner suppliers, resolving major challenges such as stockouts and the high cost of inventory brought on by numerous levels of dealers.
