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.
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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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