Metalex, a US mining and metals company operating across the African continent, raised $2M in Seed funding.
The round was led by Endura Capital Management. Endura has also entered into a strategic partnership with Metalex to form the $10M Endura Metalex African Opportunities Fund. This joint venture will provide trade finance for Metalex’s operations in its key markets.
The company intends to use the funds to expand its metal processing operations, enhance its technology platform, and grow its team.
Led by CEO Ayo Sopitan and COO Sev Bazil, Metalex Commodities is a commodity trading firm with operations across Africa. It empowers artisanal and small scale miners in various African countries by formalizing, training, equipping them and then serve as their access to markets through offtake contracts. It is currently active in Lead, Zinc, Copper, Manganese, Tin, Tantalite, Niobium, Zircon and Lithium. The company works in Nigeria, Mauritania and Zambia.
FinSMEs
29/05/2023