Litigation funding platform LegalPay enters the Diamond Capital of India
New Delhi, June 27: LegalPay, a fintech company, helps people recover their money by covering all the costs concerning the legal expenses for their litigation. LegalPay provides non-recourse funding to individuals, companies etc., for their litigations and does not charge a penny if the case is lost. LegalPay only takes a small percentage of the recovered amount if the patient is won. LegalPay leverages technology to help in the case selection process, which consists of artificial intelligence, machine learning, and due diligence by their in-house team. The company has a unique approach to providing commercial businesses with the bridge capital necessary to continue focusing on their business, cultivating client relationships and covering operating costs. LegalPay also helps entities ease the financial burden of litigation cases for the business.
LegalPay has entered Gujrat, one of the most emerging and promising states for capital, infrastructure and business, while offering a competitive edge to financial services and technology-related activities. Now, every business/startup can avail of the litigation funding services offered by LegalPay to ensure they do not have to spend money on their commercial litigations. LegalPay ensures that individuals and businesses get access to justice without worrying about money. For a large portion of the population, the high legal expense is a big hurdle in getting access to justice. LegalPay thinks it’s tougher to get access to justice in small cities, and the absence of financial aid makes it more challenging.
LegalPay is funding legal cases pan India, which are nearing the late stage of judgment in the arbitration and civil courts. LegalPay is transforming the legal ecosystem into a fair levelling field for all stakeholders. The core focus of LegalPay is B2B commercial cases where startups and companies can transfer the financial burden of litigation to LegalPay. Such funds can be utilized for completing purchase orders, as well as the overall growth of the company. The biggest question will be in your mind how can you invest in it. So the process is simple. LegalPay’s founder Kundan Shahi says that the SPV is created as a pool fund for which retail investors will raise money. Then with that money, a dozen such legal/interim finance cases will be funded, and the companies which the LegalPay will fund decide the terms and conditions of his return from them. Small investments of up to Rs 25,000 can also be made in the litigation pool, whereas investors can invest as low as Rs. 10,000 in the interim finance pool, which is listed on their website (www. legal pay. in).
LegalPay is also an alternative investment platform where anyone can invest as low as Rs. 10,000 for their Interim Finance Model. The model is non-market linked and gives 20+ IRRs to its investors. The SPV provided by LegalPay helps investors invest in various working capital requirements of insolvent companies. This investment aims to help companies revive during the Corporate Insolvency Resolution Process and maximize the value of their assets. LegalPay is creating a massive impact in the legal and insolvency ecosystem. The company has over 15,000 investors who have already invested in their SPVs and diversified their portfolios to gain hefty investment returns.
LegalPay has raised two rounds of funding so far, which has seen participation from 9Unicorns, LetsVenture, Ambarish Gupta, and Ashwini Kakkar, the Chairman of Via.com and is the current Chairman of Bombay Chambers of Commerce. LegalPay says it will raise its Series A funding round very soon.