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by Fintech Information Singapore
November 9, 2023
LXA, a Singapore-based know-how startup specialising in mortgage options, has raised US$10 million in a seed funding spherical led by New Enterprise Associates (NEA). The spherical additionally included participation from Openspace Ventures and EDBI.
With the brand new funding, LXA plans to increase its staff, improve its know-how platform, and launch its companies in extra Asian markets.
LXA’s platform goals to bridge the hole between institutional capital swimming pools and residential mortgage debtors, streamlining the mortgage lifecycle from origination to servicing.
The corporate’s proprietary know-how platform utilises digital credit score decisioning and clever workflow orchestration to offer differentiated mortgage merchandise tailor-made to the wants of Asian insurers and debtors.
LXA was based in early 2023 by Kishore Moorjani and Shawn Low, seasoned executives with in depth expertise within the asset administration, insurance coverage, mortgage, and know-how industries.
Kishore Moorjani
“We based LXA to create an institutional channel for the big capital swimming pools of insurance coverage, pension funds, sovereign funds, and endowments to entry the extremely fascinating native forex mortgage asset class. Our know-how platform is designed to create worth for all stakeholders concerned within the mortgage ecosystem.
With our world-class govt staff, help from top-notch funding companions and robust know-how basis, we’re enthusiastic about bringing this innovation to Asia. Past being good enterprise and extremely customer-centric, this has the potential to drive financial progress and prosperity in Asia.”
stated Kishore Moorjani, CEO of LXA.
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