Leegality has been a game-changing technology for both the Indian and international markets since it was launched in 2006. The company has gained immense popularity among the government institutions and has gained an excellent response from the IT and ICT sector in India. By integrating with India’s first and only Information Utility, NeSL, Leegality has able to provide its customers with value added functions as well as the base NeSL integration. As a result, it has been able to raise Pre-Series A funding and has been able to reduce the contracting costs by almost 80%.
Integrates with India’s first and only Information Utility
There are some things that can be expected to be different in the current insolvency process compared to the previous one. One of the first things that can be expected to be different is the integration of Information Utility. These are common digital platforms that allow communication to happen between the parties involved in the process. This can help in keeping the process in sync with all of the parties at the time of disbursement.
As mentioned earlier, these are platforms that can be used as a neutral repository for credit information and contracts. The Information Utility will also act as a platform to verify and authenticate financial information. In addition to this, it can be used to update credit information.
Raises Pre-Series A funding
Leegality is a document workflow and e-sign platform that provides digital solutions to businesses across industries. Founded in 2016, the company is working to revolutionize documentation processes in the Indian market. Its product caters to every industry vertical. Currently, more than 850 companies are using the Leegality platform.
Leegality raised a pre-series A funding round last year. The IIFL Securities Capital Enhancer Fund led the round, and Mumbai Angels also participated. The Series A funding is aimed at improving the growth of the business.
With the funding, the company will invest in a new product. This will speed up the development of its offerings, and it will expand its team.
Leegality will also use the funds to recruit new employees and continue to increase its user base. Over the past two years, the company has grown tenfold.
One of the best things to come out of Leegality is its ability to scale. The company has had a tenfold increase in revenue in the last two years. As a result of this success, the company has garnered the attention of some of the country’s leading financial institutions.
In a nutshell, Leegality is a document processing platform that makes eStamps, eSignatures and e-mailables a snap. This nifty little app boasts a whopping 850+ users and is used by a swag of big name businesses in the BFSI, insurance and retail industries. Its most impressive customer base includes eight of the top 10 domestic banking groups.
Although the company is a youngster, it has already managed to rewrite the book on legaltech in India. They have mastered the art of integrating eStamps into the enterprise infrastructure and have built the best product in the industry.