TLDR:
- UAE-based fintech Maalexi has raised $3m in a pre-Series A funding round led by Global Ventures.
- The funds will be used to develop the firm’s technology platform and drive customer acquisition, targeting buyers in the UAE and Saudi Arabia.
- The platform aims to help agri-buyers manage trade risks and gain access to finance by offering risk management tools, including digital contracts, AI-enhanced inspections and blockchain-authenticated documentation.
- Maalexi’s platform has recorded significant growth in 2023, seeing a Cumulative Monthly Growth Rate of 60% and adding hundreds of users.
- The firm intends to build resilience in the food supply chain and strengthen food security in the UAE, with plans to expand across the GCC region.
UAE-based agri-trade fintech Maalexi has secured $3m in a pre-Series A financing round led by Global Ventures. The platform aims to help SME agri-businesses navigate the global food trading market by providing risk management tools alongside access to finance. Using digital contracts, AI-enhanced inspections and blockchain-authenticated documentation, Maalexi automates cross-border trade processes and increases participation in the market. The firm has grown significantly in 2023, experiencing a Cumulative Monthly Growth Rate of 60%. The funds raised in this round will be used to enhance the platform’s technology and attract new buyers from the UAE and Saudi Arabia, as well as more sellers from over 50 countries. Maalexi’s long-term strategy involves strengthening food security in the UAE and expanding its model across the GCC region.
