Women-focused fintech platform LXME has raised $1.2 million in its seed round, with funding from Kalaari Capital’s CXXO initiative, which funds female entrepreneurs’ ventures.
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 participated in the round as well.
LXME will use the money raised from this campaign to support user acquisition and brand development initiatives throughout India. In order to improve the user experience and engagement, it will also make investments in its technology and product stack.
LXME was established by Priti Rathi Gupta and Ridhi Kanoria Doongursee with the goal of empowering women to make better financial decisions. The company provides specialized products like loans, mutual funds, prepaid cards, financial education, and connections to a peer group.
LXME says it has more than 400k women in its community on different platforms.
In order to become a venture partner at the early-stage venture capital firm Kalaari Capital, Priyanka Gill, the original board member of the company’s CXXO initiative, recently left her active position at The Good Glamm Group.
