LXME, a financial and investment platform for women, has raised its first seed funding of $1.2 million led by Kalaari Capital’s CXXO initiative that promotes and supports female founder-led startups in India. Other investors who participated in the funding round include Yash Kela of Founders Collective Fund, Amaya Ventures, Amit Khanna, Capri Holdings, Aditi Kothari and others.
LXME took to X, a social platform, to announce the funding round. “BIG ANNOUNCEMENT! LXME just raised our first funding from Kalaari Capital’s CXXO initiative, Yash Kela-Founders Collective, Amaya Ventures, Amit Khanna, Capri Holdings, Aditi Kothari, and others,” it tweeted.
The company is on a mission to empower women financially and help India’s 280 million working women save, spend, borrow, and achieve financial independence for better financial outcomes via an all-in-one financial platform, built specifically for them.
The financial platform for women plans to invest the funds raised in brand building and user acquisition across India and in technology and product stack to enhance the user experience and engagement, according to a report by Entrepreneur India.
Priti Rathi Gupta, Founder, LXME, said, “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. 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,” as quoted by Entrepreneur India.