Fintech platform LXME raises $1.2 million in a spherical led by Kalaari Capital

LXME, a monetary platform for ladies, has raised seed funding of $1.2 million, led by Kalaari Capital, via its CXXO initiative, which invests in ventures led by ladies entrepreneurs.

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The spherical additionally noticed participation from notable traders like Yash Kela of Founders Collective Fund, Amaya Ventures, the household oce of Amit Khanna, Capri Holdings, Aditi Kothari of DSP, Adiko Holdings, and others.

LXME is a devoted fin-tech platform that provides tailor-made merchandise comparable to mutual funds, loans, pay as you go purchasing playing cards; monetary training; and entry to a group of like-minded friends. With an addressable viewers of over 560 million Indian ladies who’ve financial institution accounts, LXME’s objective is to assist them obtain higher monetary outcomes, an announcement stated.

It has a group of over 400k+ ladies throughout numerous channels presently.

Priti Rathi Gupta, Founder, LXME, stated “This can be a vote of confidence from traders, validating what we now have constructed at LXME. This fundraise, for us, is all about getting the precise companions aligned with our imaginative and prescient, and conviction. We’re excited to have Kalaari Capital’s CXXO, as our lead investor. It’s a major milestone for LXME, as we proceed our mission to make each Indian lady, financially safe, and rich.”

Ridhi Kanoria Doongursee, Co-founder, LXME added,“With a powerful basis in product, and know-how, our staff is devoted to constructing a sturdy monetary ecosystem. This milestone, highlights our dedication to innovation, and empowerment, created for ladies by ladies.”

LXME will make investments the funds in model constructing, and person acquisition efforts throughout India. It can additionally put money into its know-how, and product stack, to boost person expertise, and engagement.

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Vani Kola, Managing Director, Kalaari Capital, stated “LXME’s journey thus far exhibits that Indian ladies, are in search of a devoted FinTech platform, that goes past providing mere entry. Its founders, Priti, and Ridhi, perceive this want. LXME’s dedication to monetary literacy, and inclusion for ladies, completely aligns with the core values of Kalaari, and CXXO. We’re excited to help their mission, as they scale LXME right into a trusted model, and monetary powerhouse.