LXME Gains USD 1.2 Mn Funding Led by Kalaari Capital's CXXO to Revolutionise Women's Financial Services The Mumbai-based fintech platform will use the current funding to enhance brand building, user acquisition, and improve its technology and product stack for a better user experience.
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LXME, a fintech platform for women, announced that it has raised USD 1.2 million in seed funding led by Kalaari Capital through its CXXO initiative, which invests in ventures led by women entrepreneurs.
Notable investors, including Yash Kela of Founders Collective Fund, Amaya Ventures, Amit Khanna's family office, Capri Holdings, Aditi Kothari of DSP, Adiko Holdings, and others, also participated in the round.
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 the user experience and engagement.
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."
Founded in 2018 by Priti Rathi Gupta and Ridhi Kanoria Doongursee, LXME 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.
Ridhi Kanoria Doongursee, Co-founder of 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."
The Mumbai-based platform claims to have a community of over 400k women across various channels.
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."
