Senegalese logistics platform for informal retailers Maad has raised US$3.2 million in seed funding to expand domestically and internationally, and launch new products. The platform leverages this distribution infrastructure to offer additional high-value services to brands – data, software, and services for advertising, distribution, and market understanding. Maad’s US$3.2 million seed round, which is made up of 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. “Among startups operating in this space, Maad benefits from a clear first-mover advantage in Sub-Saharan Francophone Africa. “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.

Source: The North Africa Journal May 16, 2024 06:22 UTC