TLDR:
- UAE agri-trade FinTech company Maalexi has raised $3 million in a pre-Series A funding round.
- The investment will be used to enhance Maalexi’s platform and expand its customer base in the UAE and Saudi Arabia.
- Maalexi’s platform addresses trade risks and access to finance for small agri-businesses by incorporating digital contracts, AI-enhanced inspections, and blockchain authentication.
- The company has seen impressive growth in 2023, with a Cumulative Monthly Growth Rate of 60% and the procurement of millions of kilograms of food supplies.
- The funding round was led by Global Ventures and included participation from Rockstart and Ankurit Capital.
Maalexi, a UAE-based agri-trade FinTech company, has successfully raised $3 million in a pre-Series A funding round. The round was led by Global Ventures, the leading venture capital firm in the MENA region, with participation from existing investors Rockstart and Ankurit Capital. The funding will be used to enhance Maalexi’s full-stack platform, which aims to facilitate faster, cheaper, and safer procurement for SME agri-buyers. The company operates in the $3 trillion global, cross-border food trading market and addresses trade risks and access to finance for small agri-businesses.
Maalexi’s platform incorporates digital contracts, AI-enhanced inspections, and blockchain authentication to automate trade and increase participation. In 2023, the company saw significant growth, with a Cumulative Monthly Growth Rate of 60% and the procurement of millions of kilograms of food supplies from 70 products and 27 countries. The funding will be used to attract more buyers in the UAE and Saudi Arabia and expand the seller base from over 50 origin countries. Maalexi’s management team includes co-founder and CEO Dr. Azam Pasha, who brings over two decades of experience in food and agricultural supply-chain management and trade finance.
