[Funding alert] Legal-tech startup Leegality raises funding from Mumbai Angels, others
Gurugram-based startup Leegality, an e-Signing and digital document workflow platform, has raised an undisclosed amount in funding from Mumbai Angels Network, Chandigarh angels, and HNIs.
Leegality aims to provide secure, legally acceptable, quick Aadhaar card, as well as eSign and eStamping facilities to all kinds of businesses. A press release says that the legal-tech startup will use the funds to enhance their technology, scale operations, and accelerate growth. The legal documentation market in India is estimated at a $4 billion.
Founded in 2016 by Shivam Singla, Prakhar Agrawal, and Sapan Parekh, this online platform claims to digitise and automate document signing, thereby eliminating heavy paperwork and streamlining operations.
It also increases efficiency of documentation across banking, financial services and insurance (BFSI) sectors with custom-made solutions for customers, merchants and employees.
“We believe Leegality has tremendous opportunity as a tech disruptor for customers and enterprises as electronic signatures provide convenience, security and ease of use. Digital technology has enabled communication to go online and in order to stay relevant and competitive all industries must also go digital. We see, digitised transactions for any type of business completely online, from start to finish, in a secure environment for anyone, anywhere, a strong space to invest and are excited to welcome Leegality to the growing MA Network portfolio,” Mumbai Angels Network CEO Nandini Mansinghka said in the press statement.
Lawyers are inundated with administrative work and paperwork that wastes valuable time. Legal tech can help them with routine activities like writing documents in a particular format or reviewing or managing documents. This would help save time and use human resources wisely.
Recently, a Mumbai-based law firm launched an incubator for legal-tech startups. Startups like LawRato, VakilSearch, NearLaw, LegalDesk, Lawyered, E-Weblog, iProbono, and Nyaaya are also gaining prominence in legal tech in India, following different models.