LegalPay, a New Delhi-based alternative investment platform specializing in legal finance investments, has raised an undisclosed pre-Series A led by renowned investors including Venture Catalysts and Amity Technology Incubator.
The cycle also saw the participation of existing investors, including the family office of Ashwini Kakkar, former head of Thomas Cook and co-founder and chairman of via.com; 9licornes venture capital funds; and other renowned angels, including LetsVenture.
LegalPay democratizes investing in alternative legal investment products, including insolvency finance and litigation finance. It specializes in fixed income and legal finance products that are asset-backed and have lucrative IRRs ranging from 18 to 30 percent.
LegalPay caters to all categories of investors, including retail investors, family offices, HNI / Ultra-HNI, international lenders and domestic NBFCs. Investing in alternative asset classes not only enables diversification by providing lucrative non-market returns, but also enables wealth creation by instilling the discipline of long-term investment.
âWe work on global best practices and allow our investors to invest in asset classes that were previously only available to the ultra-rich. In doing so, we also contribute to the economic machinery and enable justice for businesses, especially MSMEs which are the backbone of the Indian economy. One of our flagship products is the interim financing under IBC 2016 which provides a super secured loan to distressed entities for a short term period. Investing in distress and special situations has always been an area of ââfocus for us and we look forward to enabling our investors to invest in such areas, âsaid Founder and CEO Kundan Shahi.
âUPI owned and operated by NPCI has been a game-changer over the past five years, driving growth and innovation across the fintech ecosystem. Likewise, IBC 2016 was a revolutionary change across the insolvency arena, pushing and enabling the restart of the economic machinery and we are proud to thrive on such innovation, âadded Shahi.
The company has also launched an insolvency technology product to meet the needs of all stakeholders, including resolution professionals, banks, CRAs and other financial creditors, making the process efficient and transparent.
âNew age alternative assets have increased globally and it is rewarding to see LegalPay leading India’s footprint with such innovative products. Indian investors are maturing to diversify their portfolios away from traditional investment options, âsaid Apoorva Ranjan Sharma of Venture Catalysts.
Investment opportunities are listed on the platform via a pre-defined thesis and investors can expect lucrative IRRs in different categories of legal finance products, which go through a strict and detailed risk and underwriting process. . Investors benefit from a transparent process with full transparency of the investment portfolio.
“We believe in LegalPay’s vision to organize the legal finance market and simultaneously enable new age millennials to invest in alternative asset classes through the use of AI and technology,” said Aseem Chauhan of Amity Technology Incubator.
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