Leegality raises $5M in Series A round from IIFL Fintech Fund

Leegality raises $5M in Series A round from IIFL Fintech Fund

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Leegality, a Gurugram-based doc infrastructure platform, on Wednesday, mentioned it raised $5 million in a Collection A spherical led by IIFL Fintech Fund and current investor Mumbai Angels. That is IIFL Fintech Fund’s second funding in Leegality.

The startup will use the capital to speed up buyer acquisition, put money into product improvement, and quickly improve buyer expertise.

Based in 2016, Leegality’s e-sign, e-stamp, and doc workflow platform allow Indian companies to signal and handle their paperwork with clients, distributors, workers, buyers, and different stakeholders in a quicker, simpler, and extra legally compliant manner.

Shivam Singla, Founding father of Leegality, mentioned, “Within the Indian lending ecosystem, over 60 crore digital paperwork transactions are wanted yearly to utterly eradicate bodily paperwork. Leegality is addressing this head-on with first-of-its-kind digital infrastructure constructed for Indian floor realities and core compliance wants.”

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Leegality’s quarterly income has grown by over 13X, and its worker power by 7X, whereas additionally being money circulate constructive.

In the present day, Leegality is a digital documentation associate to over 1,500 Indian companies, together with group entities from eight out of the highest 10 banking conglomerates in India.

“In the present day, digitisation is a significant precedence of all main BFSI corporations. We’re tremendous impressed with the experience of the Leegality crew and the depth of their choices. Now we have seen the affect of Leegality’s options first-hand, and we’re assured that Leegality may be very properly positioned to faucet into the digitisation wave within the BFSI sector,” mentioned Mehekka Oberoi, Fund Supervisor, IIFL Fintech Fund.

“That is the primary main early-stage funding right into a legal-fintech firm in India, and we’re proud to allow it,” she added.

Nandini Mansinghka, CEO of Mumbai Angels Community, mentioned, “Digitising documentation in a legally compliant manner is a tough drawback, particularly in regulated industries. Since its inception, Leegality is innovating from the bottom up, targeted on accelerating doc logistics in a quick and compliant manner. This method has led to constructing a very differentiated product for purchasers.”

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