Maalexi, a technology-driven risk management platform for trade in agricultural goods, has secured a credit facility of up to US$20mn from Dubai-headquartered Amwal Capital Partners.
The shariah-compliant facility starts with an initial tranche of US$5mn, and is expected to help Maalexi expand its operations in the UAE and Saudi Arabia and “advance its mission to strengthen food security”.
Maalexi’s platform enables SMEs to participate directly in cross-border food and agri trade while reducing risk and optimising capital, and the company says the strategic agreement will allow it to serve “thousands of SMEs waiting to partner with the platform”.
It follows a US$3mn debt finance facility agreed with Citi in January this year.
The facility from Amwal Capital Partners, an independent asset management company that specialises in alternative investments in the Mena region, is collateralised against Maalexi’s inventory and receivables across warehouses in the UAE.
Maalexi says that as its trade volumes and data-driven risk mitigation capabilities grow, the agreement will “accommodate future funding at a significantly higher scale”.
The company also expects to expand into procurement from origin markets by partnering with farmer producer organisations and cooperatives.
Chief executive Azam Pasha says the facility “is a catalyst to enhance our capabilities and help us build resilient and intelligent food supply chains that are driven by speed, transparency, and trust”.
“With the UAE importing nearly US$24bn of food annually – 80% of which is re-exported to meet regional food security needs – SMEs remain an underutilised and underrecognised part of this food supply chain,” he says.
Sharif Eid, head of private credit at Amwal Capital Partners, says: “Maalexi’s proprietary technology stack, deep market linkages, and robust operational controls set a new benchmark for de-risking and scaling agri-trade.
“This is precisely the type of impactful business we are committed to supporting.”
