Total amount raised
₹400 Millions
Latest funding date
Location
Leegality has successfully raised funds through a Series A round, with the last funding round closing on October 18, 2022. The company is backed by seven investors, including Dominor Investment and Mumbai Angels.
Keep reading to explore the intricacies of Leegality's fundraising journey and the investors backing this innovative platform.
What Is Leegality?
Leegality, founded in 2016, is a digital business documentation platform based in New Delhi, India. The company specializes in providing secure, legally acceptable, tamper-proof Aadhaar eSign and eStamping facilities.
Founded by Prakhar Agrawal, Sapan Parekh, and Shivam Singla, Leegality offers a range of products and services including BharatSign, BharatStamp, Document Fraud Prevention, and Paperwork Automation. Their solutions cater to various industries such as banking, human resources, and digital lending.
With a team of 101-250 employees, Leegality continues to innovate in the field of digital documentation, helping businesses streamline their paperwork processes efficiently.
How Much Funding Has Leegality Raised?
- Series A
- Amount Raised: $5 million
- Date: October 2022
- Lead Investors: IIFL Fintech Fund, Mumbai Angels
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate customer acquisition, invest in product development, and improve customer experience.
- Seed Round
- Date: July 2021
- Lead Investors: IIFL Securities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development.
- Angel Round
- Date: June 2019
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide initial capital for business operations and product development.
Total amount raised: $5 million
Current valuation: Not publicly disclosed
Key Investors
Here are the major investors in Leegality:
- IIFL Fintech Fund
- Details: IIFL Fintech Fund is a venture capital fund that focuses on investing in fintech startups. They led the Series A funding round for Leegality.
- Investment Focus Areas: Fintech, financial services, digitization.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Mumbai Angels
- Details: Mumbai Angels is an early-stage investment network that supports startups across various sectors. They participated in the Series A funding round for Leegality.
- Investment Focus Areas: Early-stage startups, technology, fintech, healthcare, consumer products.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Dominor Investment
- Details: Dominor Investment is listed as an investor in Leegality, but specific details about the firm are not provided in the sources.
- Investment Focus Areas: Not specified in the sources.
- Notable Investments: Not specified in the sources.
Note: Information about other investors and their notable investments was not found in the provided sources.
What's Next for Leegality?
Leegality stands at the cusp of significant growth opportunities, driven by the increasing digitization in the BFSI sector. With over 60 crore digital paperwork transactions needed annually in the Indian lending ecosystem, the company is well-positioned to capitalize on this demand. Their recent $5 million Series A funding will be instrumental in accelerating customer acquisition, product development, and enhancing customer experience.
As Leegality scales, future fundraising rounds seem likely, potentially attracting further investments to expand their market reach and product offerings. However, the company will need to navigate challenges such as competition from other digital documentation startups, ensuring legal compliance, and maintaining high customer satisfaction amidst rapid growth.
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