[Funding alert] Document execution platform Leegality picks up pre-Series A round from IIFL and Mumbai Angels
The freshly infused funds will be used to expand Leegality’s team in key departments to fast-track product development and deepen enterprise adoption of its solution.
Gurugram-based document execution platform Leegality has raised pre-Series A funding led by IIFL Securities Capital Enhancer Fund. Existing investors including Mumbai Angels also participated in the round.
While the funding amount has not been disclosed, Leegality said it will be using the freshly infused capital to expand its team in key departments to accelerate product development and deepen enterprise adoption of its solution.
Shivam Singla, Founder of Leegality, said,
“Over the past few years, Leegality has become the go-to solution provider for any Indian enterprise looking to digitise their paperwork processes. We are now the market standard for electronic signatures and digital documentation in India. This funding round is a great vindication of the efforts of our wonderful team so far, and will provide us further fuel to grow exponentially in the war against paper.”
Founded in 2016, Leegality's e-sign, e-stamp, and document workflow platform enables Indian businesses to sign and manage their paperwork with customers, vendors, employees, investors, and other stakeholders in a faster, easier, and more legally compliant way.
Nandini Mansinghka, Co-founder and CEO of Mumbai Angels Network, added,
“The world is going digital in all aspects and paperwork is no exception. Companies often find streamlining the paperwork processes challenging and Leegality is committed to helping businesses go paperless since its inception. We believe that this investment is a testimony to the work Leegality has been doing and will help them expand their team and scale up their offerings to better serve the needs of Indian enterprise."
Leegality claims to have registered a ten-fold growth in revenue over the last two years and has been cash-flow positive since last year. The startup offers a horizontal product tailor-made for the Indian market, and is used by businesses across scale, sectors, verticals, and use-cases.
It is helping more than 850 businesses including Federal Bank, HDFC Ltd, Bajaj Finance, HDB Financial, ICICI Lombard, Axis Finance, Razorpay, Udaan, WeWork, and Cars 24, amongst others, to digitally transform their documentation processes.
Edited by Megha Reddy