With a second round of $5 million injection, IIFL Group’s early-stage investment vehicle IIFL Fintech Fund has strengthened its commitment to the legal technology platform Leegality. With this, the legal startup is 15% owned by the IIFL FinTech Fund, according to IIFL.
According to a joint statement from the firms, more than 1,500 enterprises, including group entities from eight of the top 10 domestic banking groups, utilize Leegality to digitally change their document logistics.
According to Leegality creator Shivam Singla, the government needs to do more than 60 crore digital paperwork transactions per year to totally phase out physical paperwork. This gap is being filled digitally through Leegality.
With a dedicated Rs 140 crore sponsorship from two group firms, IIFL Finance and IIFL Securities, the IIFL Fintech Fund was established in August 2021. Trendlyne, Leegality, Finbox, Trendlyne, Datasutram, Multipl, Finarkein, Trustcheckr, Easyrewardz, and Open Financial Technologies have all received investment from it thus far.
