Lxme, a fintech startup dedicated to women’s financial empowerment, has secured $1.2 million in seed funding led by Kalaari Capital through its CXXO initiative, which supports ventures led by women entrepreneurs.
Other notable investors participating in the funding round include Yash Kela of Singularity Ventures, Amaya Ventures, Capri Holdings, and Aditi Kothari, vice chairperson of DSP Asset Managers.
Founded in 2021 by Ridhi Kanoria Doongursee and Priti Rathi Gupta, Lxme aims to use the capital for enhancing brand visibility and expanding its user base across India. The platform focuses on offering tailored financial products such as mutual funds, loans, and prepaid shopping cards designed specifically for women. It also provides financial education to empower women in making informed financial decisions.
Priti Rathi Gupta emphasized the platform’s mission to facilitate the financialization of women’s savings through digitization and democratization of financial products. Lxme plans to strengthen its technology infrastructure to improve user experience and engagement.
Currently, Lxme serves a community of over 400,000 women and generates revenue through trail income from mutual fund offerings and other financial products like lending and fixed deposits, acting as an aggregator platform.
The funding round comes amid a broader effort to address the gender disparity in startup funding. Recent reports indicate a decline in funding for women-led startups, highlighting the importance of initiatives like Kalaari Capital’s CXXO in supporting women entrepreneurs.
Looking forward, Lxme aims to achieve assets under management (AUM) of approximately Rs 1,200 crore by 2026, reinforcing its commitment to empowering women through financial inclusion and education.