LXA, a Singapore-based technology startup focused on Asia’s mortgage ecosystem, raised US$10M in Seed funding.
The round was led by New Enterprise Associates, with participation from Openspace Ventures and EDBI.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Kishore Moorjani and COO Shawn Low, LXA is a fintech company that is working for non-depository capital for the Asian mortgage market. Its technology platform helps the mortgage industry streamline loan origination, processing, underwriting, and servicing combining practices from North American and European markets with a proprietary technology platform focused on digital credit decisioning and intelligent workflow orchestration.
Mr. Moorjani has over 25 years of experience investing in the region, most recently as Blackstone’s Senior Managing Director and Head of Tactical Opportunities in Asia. Mr. Low was COO of Better, where he played an instrumental role in the transformation of the mortgage platform from its pre-revenue days to over $800 million in revenue and $150 million in profitability.
FinSMEs
09/11/2023