Emirati Fintech Maalexi Raises $3M Pre-Series A Led by Global Ventures

UAE-based agricultural fintech Maalexi has secured $3 million in a pre-Series A funding round, with Global Ventures leading the investment alongside existing backers Rockstart and Ankurit Capital.

Established in 2021 by Azam Pasha and Rohit Majhi, Maalexi specialises in dynamic risk management for SME agri-businesses. Its technology offers risk mitigation tools, including digital contracts, AI-enhanced inspections, and blockchain-authenticated documentation. According to Maalexi, these features contribute to increased customer revenues, improved bankability, and more sustainable enterprises. The raised capital will be utilised to further develop the platform and expand customer acquisition efforts in the UAE, Saudi Arabia, and other markets.

“The $3 trillion global, cross-border food trading market is still weighted against SME agribusinesses. Despite the fact that they constitute 90% of global agribusinesses, they only control 30% of the cross-border trade market,” Noor Sweid, Founder and Managing Partner of Global Ventures, tells StartupScene. “Maalexi's business model aligns with our thesis on the role of technology in disintermediating supply chains to make them more efficient and productive, as well as reducing the GCC's 85% dependency on food imports.”

Maalexi's proprietary platform aims to facilitate faster, cheaper, and safer procurement for SME agri-buyers from global sellers. The company focuses on serving small agribusinesses participating in the $3 trillion global, cross-border food trading market. Despite the market's 6% compound annual growth rate over the past five years, these businesses often struggle with trade risk management and access to finance.

The startup addresses these challenges through its user-friendly web platform, which incorporates digital contracts, AI inspections, and blockchain-backed documentation. In 2023, the company experienced substantial growth, achieving a monthly cumulative growth rate of 60%, adding numerous users, and facilitating the procurement of millions of kilograms of food supplies across 70 products from 27 countries. The company's broader strategy is to enhance resilience in the food supply chain, strengthen food security in the UAE, and replicate its successful model across the GCC region.