Maalexi, a risk management platform for small and medium-sized agricultural businesses, has announced securing $3 million in financing from Citi to enhance liquidity and support direct procurement from agricultural markets.
This move comes amid growing food security challenges, as Gulf countries rely on imports for 85% of their food needs, with an annual expenditure of $68 billion.
In 2024, Maalexi signed two strategic agreements: one with a global port operator to utilize advanced warehouses in the UAE, and another with a leading trade credit insurance and business intelligence firm. The company leverages technologies including risk management systems, integrated data infrastructure, and AI engines to facilitate cross-border trade.
Maalexi Founded in 2021 and has previously secured $4 million in funding.
