Leegality Raises Undisclosed Amount In Pre-Series A Round From IIFL And Mumbai Angels
- ByStartupStory | July 5, 2021
Leegality, Gurugram–based document execution platform has raised pre-Series A funding led by IIFL Securities Capital Enhancer Fund. Mumbai Angels, existing investors of Leegality has also participated in the round.However, the funding amount has not been disclosed, the company claims that freshly infused capital will be used to expand its team in key departments to accelerate product development and deepen enterprise adoption of its solution.
Leegality was Founded in 2016, Leegality’s e-sign, e-stamp, and document workflow platform allows Indian businesses to sign and manage their paperwork with customers, investors, vendors, employees, and other stakeholders in a quickest, easiest and in a more legally compliant way. Leegality says that their revenue has seen a ten-fold growth over the last two years and has been cash-flow positive since last year. The startup provides a horizontal product tailor-made for the Indian market, and is used by businesses across scale, sectors, verticals, and use-cases.
Shivam Singla, Founder of Leegality, said, “Over the past few years, Leegality has become the go-to solution provider for any Indian enterprise looking to digitize their paperwork processes. We are now the market standard for electronic signatures and digital documentation in India. This funding round is a great vindication of the efforts of our wonderful team so far, and will provide us further fuel to grow exponentially in the war against paper.” The startup is helping more than 850 businesses including Bajaj Finance, HDB Financial, ICICI Lombard, Federal Bank, HDFC Ltd, Axis Finance, Razorpay, Udaan, WeWork, and Cars 24, amongst others, to digitally transform their documentation processes.
Nandini Mansinghka, Co-founder and CEO of Mumbai Angels Network, further added, “The world is going digital in all aspects and paperwork is no exception. Companies often find streamlining the paperwork processes challenging and Leegality is committed to helping businesses go paperless since its inception. We believe that this investment is a testimony to the work Leegality has been doing and will help them expand their team and scale up their offerings to better serve the needs of Indian enterprise.”
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