Maad, a Senegalese B2B e-commerce platform, has secured $3.2 million in funding to fuel its growth within Senegal and expand into other French-speaking regions.
This is a big deal because it’s harder for businesses selling to other businesses (B2B) to get funding right now in Africa. Maad must be doing something different to solve problems in the supply chain for everyday products.
Maad helps small shops (like corner stores) get the things they need to sell (like soap, toothpaste, and other everyday items) from big companies that make them. This approach cuts out the middleman and saves everyone time and money.
Before Maad, small shops had to deal with a complicated system to get supplies. It was slow and expensive. This means consumers couldn’t get the best prices or the products they needed.
Maad’s founders, Sidy and Jessica, saw this problem and decided to fix it. They built a platform that connects shops directly with the companies that make the products and then order everything they need in one place.
Read also: Moove Secures $100 Million Funding to Accelerate its Expansion in Africa
Maad does more than just connect shops and companies. They also take care of storing and delivering the products. This means shops can be sure they’ll get what they ordered, on time and at a good price.
Maad is already a big success in Senegal. They work with over 80 companies and deliver to over 6,500 shops! This means more money for the big companies and more affordable products for the small shops.
Other companies trying to do this in Africa are having a tough time, but Maad is different. They use data to make sure things run smoothly, and they control the whole delivery process themselves. This means they can keep their prices low and their service top-notch.
Maad isn’t stopping there! They want to reach even more shops in Senegal, especially in remote areas. They also plan to expand to another French-speaking country in West Africa by the end of the year. And they’re even thinking about offering small shops a way to buy things now and pay later.
Maad is a great example of how a company can use technology to help businesses of all sizes. Their success could be a model for other companies trying to do the same thing in Africa.