The UAE-based fintech company Maalexi, which focuses on agriculture, has raised $1 million from Stride Ventures for venture debt.
Maalexi, a dynamic risk management platform, was founded in 2021 by Azam Pasha and Rohit Majhi to assist small food and agribusinesses in directly accessing cross-border trade. The investment will support more effective food and agri-produce procurement and distribution throughout the region by expediting Maalexi’s growth plans and enhancing its operational capabilities.
Maalexi closed a $3 million pre-Series A round earlier this year, with existing investors Rockstart and Ankurit Capital leading the way.
A major turning point in its international strategy has been reached by Stride Ventures, a leading Indian venture debt firm, which announced Maalexi as its first venture debt investment of USD 1 million as part of a larger commitment in the GCC region. This action demonstrates Stride Ventures’ dedication to promoting innovation in developing nations. The investment will support more effective food and agri-produce procurement and distribution throughout the region by accelerating Maalexi’s growth plans and enhancing its operational capabilities.
Maalexi serves as a dynamic platform for risk management that gives small food and agribusiness enterprises direct access to international trade. Dr. Azam Pasha and Rohit Majhi founded Maalexi in 2021, and it is expected to completely transform the $3 trillion global cross-border food and agri-produce trading market. The company offers essential risk management tools, such as blockchain-authenticated documentation, AI-enabled inspections, and digital contracts, allowing SME agri-buyers to purchase food supplies from SME agr-producers and exporters located worldwide more quickly, affordably, and safely.
Stride Ventures’ Managing Partner Apoorva Sharma offered the following insight on the partnership: “Maalexi is at the forefront of improving regional food security and connecting rural markets with the global economy because of its deployment of cutting-edge technologies. Through its support of businesses that leverage technology to enhance established industries, this investment embodies Stride Ventures’ dedication to global expansion. Not only is our approach progressive, but it is also intended to stimulate creativity and develop cross-border collaborations.”
“This debt capital raise from Stride Ventures will significantly enhance our ability to acquire new users and scale our operations, further solidifying our position as a leading digital risk management platform for small and medium enterprises (‘SME’) engaged in cross-border trade,” said Dr. Azam Pasha, co-founder and CEO of Maalexi, expressing the team’s excitement about the partnership. With the use of these funds, we will implement state-of-the-art technological solutions that expedite the flow of goods through our domestic and international carriers and warehouses, thereby reducing significant risks associated with international trade. Additionally, this capital infusion will act as a strategic lever, enabling us to secure more debt financing to grow our business and support food security in the United Arab Emirates and the larger Gulf Cooperation Council.
This calculated investment highlights Stride Ventures’ position as a global investor with a strategic focus on assisting high-growth businesses in emerging markets and strengthens the company’s commitment to Hub71, Mubadala’s tech ecosystem.
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