Maalexi, the UAE’s agri-trade FinTech innovator, acquires $3m in pre-Series A.

UAE-based agri-trade FinTech company Maalexi has secured $3m in a pre-Series A funding round. Led by Global Ventures, the financing will be used to enhance Maalexi’s platform to facilitate faster, cheaper, and safer procurement for SME agri-buyers from sellers around the world. The company operates in the $3tn global, cross-border food trading market and aims to address the trade risks and lack of access to finance that small agri-businesses often face. Maalexi uses proprietary technology, including digital contracts, AI-enhanced inspections, and blockchain authentication to automate trade and increase participation in the market. The company has demonstrated significant growth in 2023, with a Cumulative Monthly Growth Rate of 60% and millions of kilograms of food supplies procured. Maalexi plans to use the funding to drive customer acquisition, attract more buyers from the UAE and Saudi Arabia, and expand its seller base.