Alternative Investments

LegalPay raise funds led by Venture Catalysts, Amity Technology Incubator

Mumbai: LegalPay, a tech-based alternative-investments platform specialising in legal financing investments, raised an undisclosed pre-series A funding led by Venture Catalysts and Amity Technology Incubator.

The round also saw participation from existing investors including family office of Ashwini Kakkar, former head of Thomas Cook and co-founder and chairman of
via.com; venture capital fund 9unicorns; and other marquee angels including LetsVenture.

“We work on the global best practices and enable our investors to invest in asset classes that were previously available only to the ultra-rich. While doing so, we also contribute to the economic machinery and enable justice for businesses, specifically MSMEs that form backbone of Indian economy. One of our flagship product is interim finance under IBC 2016 that provides super secured loans to distressed entities for short-term periods. Distress and special situation investing has always been a keen focus area for us and we look forward to enable our investors to invest in such areas,” founder and CEO, Kundan Shahi said.

LegalPay democratises investment in alternative-investment products in legal domain including insolvency financing and litigation funding. It specialises in fixed-income and legal financing products that are asset-backed and have lucrative IRRs ranging from 18% to 30%.

The New Delhi-based fintech 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 non-market linked lucrative returns but also enables wealth creation by instilling the discipline of long term investing.

“NPCI owned and operated UPI has been a game-changer during the last five years, thrusting the growth and innovation in the entire fintech ecosystem. Similarly, IBC 2016 has been a revolutionary change in the entire insolvency domain, pushing and enabling restart of economic machinery and we are proud to thrive on the back of such innovation,” added Shahi.

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The company has also launched a technology product in the insolvency space to cater to the needs of all stakeholders including the Resolution Professionals, banks, ARCs and other financial creditors, making the process efficient and seamless.

Apoorva Ranjan Sharma of Venture Catalysts said “New-age alternative assets have been on rise globally and it is enriching to see LegalPay leading India’s footprint with such innovative products. Indian investors are maturing to diversify their portfolio and no more restrict to traditional investment options”.

The investment opportunities are listed on the platform through pre-defined thesis and the investors can expect lucrative IRRs across different categories of legal financing products, which undergo a strict and detailed risk and underwriting process. Investors experience a seamless process with complete transparency of the investment portfolio.

Aseem Chauhan from Amity Technology Incubator said “We believe in the vision of LegalPay to organise legal financing market and simultaneously enabling new-age millennials to invest in alternative-asset classes through the use of AI and tech.”

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