Moorjani’s mortgage startup LXA scores seed stash led by NEA
LXA aims to streamline the mortgage lifecycle
The new startup of former Blackstone bigwig Kishore Moorjani has scored $10 million in seed funding, defying the funding winter chilling the startup scene.
Moorjani’s latest venture LXA, co-piloted with COO Shawn Low, runs a platform connecting home loans with deep-pocketed asset jockeys.
LXA aims to smooth the entire mortgage marathon – from loan origination to servicing the finish line.
NEA led the seed round, with Openspace Ventures and EDBI hopping aboard.
LXA’s core potential
“We created LXA to pipe capital from insurance and pension funds into Asia’s sizzling digital mortgage market,” said Moorjani.
LXA Expansion
Beyond Singapore, LXA looks to expand across Asia, where online mortgages are taking off like a rocket. Indonesia already has players like Pinhome and Ideal disrupting old-school fragmented and opaque processes.
With mortgage demand surging and his Blackstone bona fides, Moorjani picked a prime time to launch LXA. Though winter is coming for many startups, LXA is keeping cozy with its $10 million seed bundle.
