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[Funding News] LXME Secures $1.2 Mn Seed Funding Round from Kalaari Capital

By Team VS
New Update
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Priti Rathi Gupta, founder, LXME

LXME, an investment and financial platform for women, has secured $1.2 million in pilot funding from Kalaari Capital through its CXXO initiative. This initiative invests in ventures led by female entrepreneurs.

The company intends to allocate the capital towards the expansion of its brand and the optimization of its user acquisition initiatives throughout India. Additionally, it intends to enhance user engagement and experience by investing in its technology and product infrastructure.

Read also - ZYOD Raises $18 Mn Series A Funding, Led by RTP Global with Returning Investor Lightspeed

In addition, investors such as Yash Kela of Founders Collective Fund, Amaya Ventures, the family office of Amit Khanna, Capri Holdings, Aditi Kothari of DSP, and Adiko Holdings participated in the round.

Kalaari Capital initiated the CXXO initiative in 2021 to provide capital, community, and mentoring to Indian female founder-CEOs.

LXME is a fintech platform that is intended to assist women in making more informed financial decisions. It provides a variety of products, including prepaid purchasing cards, loans, and mutual funds, as well as financial education and a supportive community of over 400,000 women across multiple channels.


Ridhi Kanoria Doongursee, Co-founder, LXME, said: “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,”


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,"

About LXME

Founded in 2018 by Priti Rathi Gupta, LXME (pronounced Lakshmi) is India’s leading financial platform for women, offering financial learning, lending, and investment options, all in one app.

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Read the Next Article

Zopper has Raised $25 Mn in Series D round Funding

Zopper plans to use the fresh funding to strengthen its overall tech stack, including the insurance distribution platform. Zopper helps businesses sell insurance products by connecting them to ecosystem partners like ecommerce marketplaces.

By Aryan Sharma
New Update
Zopper has Raised $25 Mn in Series D round Funding

 Zopper is an insurtech firm based in Delhi NCR, has raised $25 million (about INR 211.2 crore) in a Series D funding round headed by Elevation Capital and Dharana Capital, with Blume Ventures, an existing investor, also participating. 

Purpose of fundraising

With the additional funds, the business intends to fortify its whole technology stack, including the platform for distributing insurance.

Read Also - CredFlow raises $3.7 Million in Pre-Series B Round Funding 

Furthermore, according to a statement from the company, a portion of the revenues will also be used to improve Zopper's device and appliance protection business's post-sale and maintenance capabilities.

Furthermore, some of the funds have been set aside for investments in machine learning, artificial intelligence, data science, and data engineering.

In order to provide flawless customer support, the company is developing a modern policy administration system (PAS) that will make use of an up-to-date tech stack, effective algorithms, data management, and security features. 

Insurance companies and ecosystem partners provide Zopper with income. In order to deliver items to an ecosystem partner, it charges insurers a brokerage fee. 

Zopper Platform Offer

The Zopper platform allows ecosystem partners to handle issues pertaining to claims, endorsements, and post-sales, among other things. Every policy that passes through this specific conduit generates revenue for Zopper.

The business, which has investors including Creaegis, Bessemer Venture Partners, and ICICI Venture, says it has raised $100 million so far. In 2022, Creaegis led Zopper's $75 million Series C fundraising round.

It serves well-known brands including Amazon, Ola, Xiaomi, Croma, Hitachi, Equitas Small Finance Bank, and Chaitanya, and it is present in over 1,200 cities around India.

The investment in Zopper coincides with a boom in the Indian insurtech business, which is expected to reach a valuation of $307 billion by 2030. 

Additionally, investors are becoming more interested in domestic insurtech businesses. For example, Onsurity closed its Series B round at $45 million in September after raising an additional $21 million, headed by the private equity firm Creaegis.

Before that, Square Insurance, a Jaipur-based company, received $3 million in pre-series A fundraising in August from investors such as Negen Capital and BizDateUp.

About Zopper

Zopper is an embedded platform for insurance sales that was founded in 2011 by Surjendu Kuila and Mayank Gupta. Through its unique embedded insurance API suite, it assists major insurance companies in connecting with ecosystem partners, such as e-commerce marketplaces. 

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.

Tags: Zopper