[Funding alert] Delhi startup Wizcounsel raises Rs 1 Cr in angel round led by cricketer Kapil Dev, others
Online market network Wizcounsel recently announced that it has raised Rs 1 crore in an angel round led by Kapil Dev, former Indian cricket team captain , Sunil Kumar Gupta, Founder and Chairman of SARC Associates, and Manas Fuloria, Founder and CEO of Nagarro.
The fund raised will be used for marketing, sales, and to strengthen current operations. The startup helps individuals and small businesses in hiring legal and accounting experts like lawyers, chartered accountants, and business experts within the client’s budget.
On the fundraise, Ranu Gupta, Founder and CEO of WizCounsel said in a press statement,
“People still look for professional services the way they did 15 years back and professionals still develop a business the same way. This is a perfect ‘that’s how it has always been' opportunity."
He also stated that the industry is in dire need of improvement in terms of speed, convenience, affordability, and quality.
Kapil Dev, who has invested in the round, stated,
“It is going to be all about the internet. I am sure they will start looking for services from CAs and lawyers or even accountants online. Many directories exist but there must be a platform to give them more confidence in how they deal with experts for their work.”
Launched in March this year, the startup has generated a transaction value of approximately Rs 3 lakh and has over 100 verified professional on its Software as a Service (SaaS) platform. Its services range from simple income tax filing to outsourcing a complete legal and accounting work.
On the investment, Manas Fuloria, Founder and CEO of Nagarro, said,
“Individuals or small companies seeking legal, tax or accounting help are automatically on the back foot because of ‘information asymmetry’. They typically do not know what exact services to ask for, how much to pay, how to monitor timelines and effort, and how to evaluate the quality of decisions.”