LXME, a fintech platform tailored for women, has successfully raised $1.2 million in seed funding. This funding round was spearheaded by Kalaari Capital through its CXXO initiative, which specifically invests in ventures led by female entrepreneurs.
The funding round also attracted contributions from notable investors such as Yash Kela of Founders Collective Fund, Amaya Ventures, the family office of Amit Khanna, Capri Holdings, Aditi Kothari of DSP, Adiko Holdings, among others. The newly acquired funds are earmarked for enhancing brand presence and accelerating user acquisition across India. Additionally, LXME plans to invest in advancing its technology and product offerings to enhance user experience and engagement.
The CXXO initiative, launched in 2021 by Kalaari Capital, aims to support Indian female founder-CEOs with capital, community, and coaching.
Established in 2021, LXME aims to empower women to make informed financial decisions through products like mutual funds, loans, prepaid shopping cards, and financial education. With a supportive community of over 400,000 women across various channels, LXME strives to address financial gender disparity and empower the over 560 million Indian women with bank accounts.