Jofie Yordan · · 2 min readEx-Blackstone exec’s fintech firm bags $10m in NEA-led seed round
Singapore Financial District / Photo credit: Shutterstock
The startup of Kishore Moorjani, who helped lead the Asia investment unit at Blackstone for nine years, has raised seed funding amid a funding slowdown in the startup industry.
LXA, which Moorjani co-founded alongside COO Shawn Low, provides a platform that sells pools of home loans to parties like asset managers and financial institutions. The company aims to streamline the entire mortgage lifecycle, from loan origination to servicing, it said in a statement.
The Singapore-based company secured US$10 million in a seed funding round led by New Enterprise Associates.
Funding details
- Funding amount: US$10,000,000
- Lead investor: New Enterprise Associates (NEA)
- Other investors: Openspace Ventures, EDBI
- Stage: Seed
LXA was established to create a channel for “capital pools of insurance, pension funds, sovereign funds, and endowments,” Morjani said. Apart from Singapore, the company also aims to expand its services to other countries in Asia.
Digital mortgages have taken off in the region in recent years, especially in Indonesia. Some local players like Pinhome and Ideal are working to improve the mortgage application process, which is known to be fragmented and lack transparency.
See also: Mortgage fintech: Indonesia’s next big consumer lending space
More details
LXA→The company was founded in 2023 by Kishore Moorjani and Shawn Low. |
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| Stage | Amount (US$) | Investors |
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