Maalexi Lands $20 Million Shariah-Compliant Funding Boost for Agri-Fintech Expansion
UAE-based agricultural fintech startup Maalexi has secured a significant financial boost, receiving a shariah-compliant credit facility of up to $20 million from Amwal Capital Partners (ACP). The funding, starting with an initial tranche of $5 million, will empower Maalexi to scale its operations in the UAE and Saudi Arabia, solidifying its presence in a key agricultural market. This investment underscores the growing interest in innovative fintech solutions focused on supporting food security, a critical issue for nations across the Middle East and, by extension, a model that can potentially be adapted for African agriculture.
Empowering Agri-Businesses Through Innovative Finance
Established in 2021 by Azam Pasha and Rohit Majhi, Maalexi’s core mission is to facilitate seamless cross-border trade for small and medium-sized food and agribusinesses. Their platform employs a dynamic risk management system to provide direct access to these businesses. The $20 million credit facility will be instrumental in supporting thousands of SMEs in the agricultural sector. Earlier this year, Maalexi also secured a $3 million debt financing facility from Citi, adding to the confidence in the company. This financial backing enables Maalexi to further enhance its platform capabilities, expand its geographic reach, and strengthen regional food security, a vital aspect for sustainable economic growth.
This significant investment in Maalexi reflects the increasing recognition of the potential for fintech solutions to revolutionize the agricultural sector, not only in the Middle East but also in developing economies like those found in Africa. This successful fundraising demonstrates the growing confidence in Maalexi’s vision and business model, laying the groundwork for future growth and impact within the agri-tech landscape.
Keywords
Related Keywords: Maalexi funding, Maalexi investment, Shariahcompliant investment, 20 million funding, Islamic finance, Maalexi news, Fintech funding, Saudi investment, Shariah investment, Venture capital
