Legalpay raises funds led by Venture Catalysts, Amity Technology Incubator

The round also saw participation from existing investors, including Ashwini Kakkar, former head of the family office of Thomas Cook and co-founder and chairman of Via.com; Venture Capital Fund 9unicorns; and other marquee angels including LetsVenture.

LegalPay democratizes investment in alternative investment products in the legal sector including bankruptcy financing and litigation financing. It specializes in fixed income and legal financing products that are asset backed and have attractive IRRs of over 18-30 percent.

LegalPay caters to all categories of investors including retail investors, family offices, HNIs/Ultra-HNIs, international funders and domestic NBFCs. Investing in alternative asset classes not only enables diversification by providing attractive returns linked to non-market but also enables wealth creation by instilling the discipline of long-term investing.

“We work on global best practices and enable 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 system and enable justice for businesses, especially MSMEs who are the backbone of the Indian economy. One of our flagship products is Interim Finance under IBC 2016 which provides super secured loans for short term duration to distressed entities. Investing in crisis and special situations has always been a major focus area for us and we look forward to enabling our investors to invest in such areas,” said Founder and CEO Kundan Shahi.

“UPI, owned and operated by NPCI, has been a game-changer during the last five years, driving growth and innovation across the fintech ecosystem. Similarly, IBC 2016 has been a revolutionary change in the entire insolvency sector, enabling and revamping the economic machinery and we are proud to have thrived behind such innovation.”

The company has also launched a technology product in the insolvency sector to meet the needs of all stakeholders including resolution professionals, banks, ARCs and other financial creditors, making the process efficient and seamless.

“New-age alternative properties are growing globally and it is enriching to see Legalpay leading the India footprint with such innovative products. Indian investors are maturing to diversify their portfolios and are not limited to traditional investment options,” said Apoorva Ranjan Sharma, Venture Catalyst.

Investment opportunities are listed on the platform through a pre-defined thesis and investors can expect attractive IRRs across various categories of legal financing products, which undergo a rigorous and detailed exposure and underwriting process. Investors experience a seamless process with complete transparency of the investment portfolio.

Asim Chauhan, Amity Technology Incubator, said, “We believe in LegalPay’s vision to streamline the legal financing market as well as help the new age millennials to invest in alternative asset classes through the use of AI and technology. to be enabled.”