Led · Seed · May 2023

Metalex Commodities is a commodity trading firm led by CEO Ayo Sopitan and COO Sev Bazil that operates across the African continent. It empowers artisanal and small-scale miners by formalizing, training, and equipping them, then providing market access through offtake contracts. The company is active in lead, zinc, copper, manganese, tin, tantalite, niobium, zircon and lithium. Metalex works in Nigeria, Mauritania, and Zambia. It intends to use the funds to expand metal processing operations, enhance its technology platform, and grow its team. The company raised $2M in Seed funding led by Endura Capital Management, which also formed a $10M Endura Metalex African Opportunities Fund to provide trade finance for its operations.