$3 million for Maalexi to help SME agri-businesses streamline cross-border trading

Say hello to Maalexi! The UAE-based fintech platform that’s helping small agri-businesses streamline the cross-border trade of agriculture products, using AI-driven risk management tools to address payment and performance risks in regional and global supply chains.

And, they just raised $3 million in a pre-series A funding round.

• Established in 2021 by Dr. Azam Pasha and Rohit Majhi, the start-up has attracted hundreds of users and helped SME buyers procure millions of kilograms of food supplies across 70 products and 27 countries since launching.

💰 Investor lowdown: The funding round was led exclusively by Global Ventures, which joins existing investors Rockstart and Ankurit Capital.

• Maalexi is also a graduate of Abu Dhabi-based Hub71’s second cohort.

🌍 Savings crisis

Despite SME agri-businesses constituting 90% of the global sector, they only control 30% of the $3 trillion global cross-border food trade market!

• The global cross-border food trading market grew at a 6% CAGR from 2018 to 2023, reaching a value of $3 trillion.

None-the-less small sellers and buyers face significant challenges to participate in mainstream international trade, being forced to sit on the sidelines due to complex processes and documentation, high transaction risks and limited or no access to funding.

📉 Reducing risk 

So, who’s going to stand up for the little guy? You guessed it, by leveraging advanced technology and expertise to reduce risks and break down barriers like trust and complexity, Maalexi enables SMEs to trade food and agricultural products internationally.

• The platform offers various risk management tools, including digital contracts, AI-enhanced inspections, and blockchain-authenticated documentation.

The platform connects small sellers with credible buyers for end-to-end transactions, offering transparent data and mitigating cross-border risks through partnerships.

Additionally, it facilitates continuous supply flow for buyers and competitive terms for sellers, and provides a digital dispute resolution process for any issues between parties.

🔮 Flashforward

With a focus on attracting buyers from the region and engaging sellers from over 50 countries, the startup is aiming to strengthen the food supply chain, improve UAE's food security, and expand across the GCC region.