LXME raises $1.2M in seed funding round led by Kalaari Capital

LXME, an investment and financial platform for women, has raised $1.2 million in a seed funding round led by Kalaari Capital, through its CXXO initiative, which invests in ventures led by women entrepreneurs.

The round also saw participation from Yash Kela of Founders Collective Fund, Amaya Ventures, the family office of Amit Khanna, Capri Holdings, Aditi Kothari of DSP, Adiko Holdings, and others. 

The company plans to use the capital in brand building and user acquisition across India. It also plans to invest in its technology and product stack to improve user experience and engagement.

"LXME’s journey so far shows that Indian women are seeking a dedicated fintech platform that goes beyond offering mere access. Its founders, Priti and Ridhi, understand this need," said Vani Kola, Managing Director of Kalaari Capital.

"LXME's dedication to financial literacy and inclusion for women perfectly aligns with the core values of Kalaari and CXXO. We are excited to support their mission as they scale LXME into a trusted brand and financial powerhouse,” she added.

The CXXO initiative, launched by Kalaari Capital in 2021, supports Indian female founder-CEOs with capital, community, and coaching.

"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," said Priti Rathi Gupta, Founder, LXME.

"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," she added.

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

Launched in 2021, LXME is a fintech platform designed to help women make better financial decisions by offering products like mutual funds, loans, prepaid shopping cards, financial education, and a supportive community of 400k+ women across various channels. LXME aims to reduce financial gender disparity and empower over 560 million Indian women with bank accounts.