On the occasion of the Viva Technology trade show, Proparco and Digital Africa are reaffirming their support for "Made in Africa" companies, by granting financing, through the Bridge Fund by Digital Africa, to the Senegalese start-up Maad.
Founded in Senegal in 2021, Maad has developed a platform enabling small retailers to facilitate the supply of their stores. Through this innovative digital solution, merchants benefit from a fast delivery service and competitive prices for their purchases. Maad also offers financing solutions designed to optimize retailers’ cash flow. Finally, thanks to the data generated by its platform, Maad enables suppliers to track their sales reliably and continuously, so as to improve restocking.
Within the Bridge Fund by Digital Africa framework, Proparco has provided Maad a 200,000 euro financing package to enable it to accelerate its growth until its next round of financing (Series A).
This financing will support the strong deployment of Maad's solution in Senegal, where it is already used by over 5,000 merchants, its expansion into other French-speaking African countries, and the development of new offers for small retailers.
“We are proud to support an innovative start-up committed to creating a positive impact across Senegal. Maad works alongside small merchants to help them manage their supplies thanks to a high value-added digital solution. By financing innovation to give entrepreneurs access to practical and effective solutions for their business, this project fits perfectly with Proparco's new strategy for 2023-2027, -Acting together for greater impact-.” for Fabrice Perez, Head of Venture Capital Investments at Proparco
“Bridge Fund by Digital Africa reaffirms its relevance and continues its deployment by supporting Maad, a Senegalese start-up looking to consolidate its growth. This Bridge financing will enable this promising startup to confirm its position in the West African retail market, which is very eager for innovations, particularly those that optimize supply chains and compress prices. We are delighted to support this dynamic.” for Isadora Bigourdan, Digital Africa CEO
“Maad is grateful for the support of Proparco and Digital Africa in advancing its mission of strengthening the informal retail sector in Francophone West Africa. With this funding, Maad will reach thousands more retailers with its supply chain services. And Maad will continue to develop its portfolio of innovative data and financing tools for small retailers and national suppliers alike.” for Sidy Niang, Maad co-CEO
Source: Proparco