UAE’s Agri-focused Fintech Maalexi Secures $1M Investment from Stride Ventures
Maalexi, a UAE-based fintech startup specializing in agriculture, has successfully raised $1 million in venture debt from Stride Ventures, an Indian venture debt firm. This investment marks a significant milestone for Stride Ventures' international strategy and highlights its broader commitment to the GCC region.
The new funding will accelerate Maalexi’s growth plans and enhance its operational capabilities, aiming to foster more efficient procurement and distribution of food and agricultural produce across the region. Founded in 2021 by Azam Pasha and Rohit Majhi, Maalexi provides small food and agribusinesses with direct access to cross-border trade through a dynamic risk management platform. The company is poised to revolutionize the $3 trillion global cross-border food and agri-produce trading market.
Maalexi offers critical risk management tools such as digital contracts, AI-enabled inspections, and blockchain-authenticated documentation. These tools enable SME agri-buyers to procure food supplies faster, cheaper, and more securely from globally located SME agri-producers and exporters.
Apoorva Sharma, Managing Partner at Stride Ventures, commented on the investment, stating, “Maalexi's deployment of cutting-edge technologies places it at the forefront of enhancing regional food security and connecting rural markets with the global economy. This investment embodies Stride Ventures' commitment to global expansion by supporting companies that use technology to improve traditional industries. Our strategy is not only forward-thinking but also designed to foster innovation and cultivate synergies across borders.”
Dr. Azam Pasha, co-founder and CEO of Maalexi, expressed his optimism about the new funding, saying, “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 engaged in cross-border trade. We will use these funds to deploy cutting-edge technology solutions that streamline the movement of goods through our local and international warehouses and carriers, effectively mitigating key risks in international trade. Furthermore, this capital infusion will serve as a strategic lever, helping us acquire additional debt capital to expand our operations and bolster food security across the UAE and the broader GCC region.”
This strategic investment also reinforces Stride Ventures' commitment to Hub71, Mubadala’s tech ecosystem, and underscores their role as a global investor focused on supporting high-growth companies in emerging markets.
This funding round follows Maalexi’s $3 million pre-Series A round, which was led by Global Ventures and joined by existing investors Rockstart and Ankurit Capital. The combined financial support will significantly boost Maalexi’s efforts to revolutionize cross-border food and agri-produce trade, positioning the startup as a key player in enhancing food security and trade efficiency in the region.