[Funding alert] Udaan Co-founder Sujeet Kumar backs legaltech startup Vakilsearch
Vakilsearch, a Chennai-based online platform for legal, tax, and compliance services, raised an undisclosed sum from technology growth investor and the Co-founder of B2B ecommerce platform Udaan, Sujeet Kumar. Prior to Udaan, Sujeet was the President of Operations at Flipkart.
Vakilsearch CEO Hrishikesh Datar said,
“At Vakilsearch, we have always focussed on providing businesses and individuals a trouble-free experience. With an Amazon rivalling NPS score of 56 and an average rating of 4.2/5 from 1,400 verified Google reviews behind us, we are delighted to tie-up with Sujeet to expand our leadership position.”
Founded in 2010 by Hrishikesh Datar, Vakilsearch helps businesses with registrations, incorporations, accounting, filing, annual compliance, and legal documentation. The startup further offers several need-based services such as tax filings, property agreements, and consumer rights protection.
With an online platform and a mobile application, Vakilsearch said that it aims to make every Indian business owner and citizen experience its vision of “Legal is now simple”. Its app is available for Android and iOS users.
“Vakilsearch has soared high to a leadership position in the fast-growing legaltech market, and the startup's drive to pursue more is exceptional. Really proud that 10 percent of all Indian Pvt Ltd companies seek them out for help with registration and filings. Vakilsearch is a great example of a capital-efficient business, solving an age-old problem with cutting-edge technology, and thereby transforming the ecosystem,” added Sujeet.
The startup claims that it has brought together more than 11,500 professionals on its platform, and has already offered its services to over 140,000 customers so far. It’s larger clients include OYO, Bigbasket, Amazon, HDFC Bank, and Jamboree.
Earlier, Vakilsearch had been backed by investors such as Kalaari Capital, and Microsoft's venture fund M12, among others. It competes with the likes of LegalWiz, Business Setup, Indiafillings, LawRato, and Cleartax, etc.
Edited by Suman Singh