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LXME, a financial platform for women, has raised seed funding of $1.2 million, led by Kalaari Capital, through its CXXO initiative, which invests in ventures led by women entrepreneurs.
The round also saw participation from notable investors like Yash Kela of Founders Collective Fund, Amaya Ventures, the family oce of Amit Khanna, Capri Holdings, Aditi Kothari of DSP, Adiko Holdings, and others.
LXME is a dedicated fin-tech platform that offers 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, a statement said.
It has a community of over 400k+ women across various channels currently.
Priti Rathi Gupta, Founder, LXME, 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.”
Ridhi Kanoria Doongursee, Co-founder, LXME 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.”
LXME will invest the funds 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.
Vani Kola, Managing Director, Kalaari Capital, 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.
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