LXME, a financial platform for women, raised seed funding of USD 1.2 million led by Kalaari Capital through its CXXO initiative, which invests in ventures led by women entrepreneurs.
LXME is a dedicated fintech platform that helps women make better financial decisions by offering tailored products such as mutual funds, loans, prepaid shopping cards; financial education and access to a community of like-minded peers. With an addressable audience of over 560 million Indian women who have bank accounts, LXME’s goal is to help them achieve better financial outcomes, the company said in a statement.
LXME's vision is to help Indian women save, spend, borrow, and achieve financial independence for better financial outcomes via an all-in-one financial platform, built specifically for them. LXME’s community of over 400k+ women across various channels makes it the largest finance-centric community for women in India today, the company claims.
LXME Founder Priti Rathi Gupta, said “This is a vote of confidence from investors validating what we have built at LXME. This fundraise, for us, is all about getting the right partners aligned with our vision and conviction. We are excited to have Kalaari Capital’s CXXO as our lead investor. It’s a significant milestone for LXME as we continue our mission to make every Indian woman financially secure and wealthy."
LXME Co-founder Ridhi Kanoria Doongursee added, “With a strong foundation in product and technology, our team is dedicated to building a robust financial ecosystem. This milestone highlights our commitment to innovation and empowerment, created for women by women.”
Kalaari Capital Managing Director Vani Kola, said “LXME’s journey so far shows that Indian women are seeking a dedicated fintech platform that goes beyond offering mere access. Its founders, Priti and Ridhi, understand this need. LXME's dedication to financial literacy and inclusion for women perfectly aligns with the core values of Kalaari and CXXO. We are excited to support their mission as they scale LXME into a trusted brand and financial powerhouse.”
The round also saw participation from investors like Yash Kela of Founders Collective Fund, Amaya Ventures, the family office of Amit Khanna, Capri Holdings, Aditi Kothari of DSP, Adiko Holdings and others.
With the current fundraise, LXME will invest in brand building and user acquisition efforts across India. It will also invest in its technology and product stack to enhance user experience and engagement.
