LXME, the Investment and Finance platform that specifically targets women, has raised $1.2 million in the seed funding round. The lead investor was Kalaari Capital through its CXXO initiative which supports companies run by female entrepreneurs.
Founders of LXME
Priti Rathi Gupta and Ridhi Kanoria Doongursee launched a company called LXME to help Indian women with a variety of financial goods like mutual fund schemes, loans, or prepaid cards for shopping only. Moreover, LXME helps them understand their finances better through education while building a community of supportive 400K strong women. Their advocacy for financial literacy and inclusion matches well with the values upheld by Kalaari Capital and its initiative; CXXO.
Investment Purpose
LXME shall use this money to promote its brand throughout India as well as acquire customers there. Furthermore, the firm also looks forward to investing in technology that will enhance user experience and engagement on its product stack. Others who invested during this round included Yash Kela from Founder’s Collective Fund; Amaya Ventures; Capri Holdings (Amit Khanna family office); DSP (Aditi Kothari) and Adiko Holdings apart from Kalaari Capital.
LXME’s Vision and Mission
LXME aims to provide Indian women with a sense of financial independence, by giving them access to customized financial products through a single app. The vision of the organization is to enable women to save, spend, and borrow confidently thus addressing the gap in financial literacy and inclusion.
Image Source: Startup Story
LXME plans to become the ultimate one-stop shop for all financial requirements of Indian women. They offer products such as mutual funds, insurance, prepaid shopping cards, and financial education and also create a supportive network of people who think alike for those who need this. By meeting the unique financial needs that women have, LXME seeks to enhance their economic outcomes and empower them on their journeys towards wealth.
Empowerment of Indian Women
In 2021, LXME was launched offering an integrated basket consisting of mutual funds, loans, prepaid shopping cards, financial education, and over 400k women in an inclusive community across several platforms. LXME looks forward to bridging the gender divide in finance by
Key Features of LXME’s Platform
LXME is India’s first investment and finance platform for ladies that aims to educate them about investment information so they can make informed choices concerning saving. A sanctuary where women can talk about anything money-related. Financially fearless ladies’ community where you could ask questions regarding money issues or get inspired by other people’s experiences.
Interactive modules, expert-led live sessions, games, and contests. Simplified investment planning and personal finance education. Retirement planning calculators, tax planning calculators, child education calculators, and goal-based calculators that are simple to use. People can start investing as low as ₹100.
Conclusion
With this funding, LXME is ready to grow into a trusted brand and a financial powerhouse. The company’s strong foundation in product and technology reflects its commitment to innovation and empowerment. It’s a significant milestone for LXME to enable every Indian woman to become financially secure and rich, and Kalaari Capital’s support through the CXXO initiative further reinforces its vision.
Image Source: Indian Startup News
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