Lxme, a women-only financial platform, secured $1.2 million in seed funding from Kalaari Capital through its CXXO initiative and investors like Yash Kela, founder of Singularity Ventures; Amaya Ventures; Capri Holdings, Aditi Kothari, VC of DSP Asset Managers, and others. Lxme, founded in 2021, provides financial products, education, and financial education to over 400,000 women, aiming to enhance user experience and promote financial inclusion.
Lxme plans to use funds for brand-building, user acquisition, and technology enhancement in India. It plans to generate revenue from mutual fund offerings and lending, with an AUM of around Rs 1,200 crore by 2026. In addition to this, the platform also aims to advance its technology and product stack to enhance user experience. The CXXO initiative driven by Kalaari Capital was launched in 2021 and invests in startups with women founders along with offering mentorship and community support to them.
Priti Rathi Gupta, founder of Lxme mentions, "With digitization and democratization of financial products, it is a great time to get women onto financial platforms or products. I would not call it financial inclusion, but I would say financialization of their savings." LXME is India's first female-only financial platform offering lending, investment, and savings options. It aims to close the gender gap in finance by providing a secure forum for discussions on money-related topics and intelligent content.
