Agri-trade fintech firm Maalexi bagged USD 1 mn in venture debt from India-based venture capital firm Stride Ventures, according to a press release. The investment will allow Maalexi to acquire new users and scale its operations, as well as boost food and agri-produce procurement and distribution across the region. The startup also hopes to acquire further debt capital down the line to boost its expansion plans, the statement said.

Investors ❤️ Maalexi: The agri-tech company secured USD 3 mn in a pre-Series A funding round in January, led by Mena venture capital giant Global Ventures, with participation from Amsterdam’s Rockstart and New Delhi’s Ankurit Capital.

About Maalexi: Founded in 2021 by Azam Pasha (LinkedIn) and Rohit Majhi (LinkedIn), Maalexi offers risk management services, including digital contracts, AI-powered inspections, and blockchain-authenticated documentation, for small and medium agri-businesses operating in food security. The firm has facilitated the procurement of food supplies across 70 products from 27 countries and recorded a cumulative monthly growth rate of 60% last year.

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