LXME is India’s especially designed financial platform for women, providing them a safe community for women to talk about all things money, and the tools and resources to start investing their money to achieve their goals. Priti Rathi Gupta, Founder, LXME, gives a backdrop: “At a time when nobody was taking up the challenge of providing the right financial education to encourage women to invest, I decided to break this barrier and set up LXME. India has a lot of financial advisors, but very few were out there, focused on helping women in end-to-end financial planning.”
Deeply Disturbing Reality
One has access to many statistical revelations in today’s fast-paced digital world. Priti explains: “Spending over 2 decades by offering financial solutions to clients taught me greater lessons in life than I believed I would. Through this tryst, I witnessed the deep chasm between the percentage of men and that of women taking charge of their financial decisions. As a woman, this learning came as a deeply disturbing reality.”
Solutions For Women
The incumbent financial services ecosystem is largely male dominated and hence focused towards men. It was a case of reaching out to the ready market as opposed to developing one. Priti, also the Managing Director & Promoter of Anand Rathi Share & Stock Brokers, elaborates: “I saw financial advisors and firms turn a blind eye to the segment that constitute almost 50% of the population and wondered why nobody was taking up the challenge of financial education to encourage women to invest. With every new day, the world of finance for women grew further away, surmounting as a hurdle to any that tried to face it.”
Today more women are graduating with degrees, and are in full-time employment. Priti observes: “They are earning more than ever and have more disposable income to spend, save, and invest. Women entrepreneurs are building new companies, creating new markets, and fast becoming prominent wealth creators.”
Eliminate Gender Bias
Through all this progress, the burning question remains: Is the financial ecosystem effectively targeting women? Priti asks: “To what extent do the products and services provided by the financial services industry take into account the life trajectory of women? More importantly, how does the industry check for and eliminate gender bias which can have a direct impact on women’s financial returns?”
Women work hard at earning and saving their money but usually stop there. While the society around women is changing and making way for a more progressive work culture, women also need to adapt and take charge of their finances. Priti points out: “That is my driving force behind having a financial planning platform specially designed for women. With LXME, I can now bridge the gap between women and finance and inspire a wave of financially fearless women actively managing their money and achieving their dreams.”
Simplify Money Matters
Priti has always been driven towards empowering women, and she has been driving this consciously even at the workplace since the very beginning. Priti describes: “At LXME, the team is primarily women led and women driven; partly by chance and partly by design.
At LXME, we simplify money matters for women by creating and facilitating the Being LXME community of women to engage in conversations that make them confident about gaining more control of their finances and learn from each other as they progress on their financial journeys. Palatable and relatable educational content on money management is curated for women in the form of blog posts, videos, courses, learning modules, workshops and bootcamps that demystify the world of finance.”
Financial Planning
LXME began as a community on Facebook ‘Being LXME’ and has aimed to inspire a wave of financially fearless women independently managing their money and achieving their dreams. Priti elaborates: “Facebook has recognized the community and LXME as a part of the Facebook Community Accelerator Program Amongst 130 global communities. This program helps leaders harness the power of their community to turn impactful ideas into action. LXME is an easy to use and hassle-free investment platform with financial planning products like mutual funds and gold that are well suited for women’s financial goals, risk appetite and investment tenure.”
Impact On Women
Priti reveals the results with great sense of satisfaction: “We have impacted over 80,000 women in the past year with our online sessions on money management and a sizable number of women doing the entire journey from learning to investing. Starting my entrepreneurial journey at 47 to seeing the validation I receive for its value proposition today, has been the fruitful labour of learning from experience, acting upon the neglect observed, and facing challenges head on to finally build what is now India’s 1st financial platform for women – LXME.”
