LegalPay bags a pre-Series A round from Hedonova
- ByTejika Bajaj | February 3, 2022
Litigation financing platform LegalPay has recently bagged its pre-series A round of funding from US based hedge fund Hedonova. The details of the investment still remain undisclosed by both the parties.
“The deep-expertise that Hedonova brings on the table for massive over 12 asset classes is something we look forward to partnering with and growing together at an exponential pace. We are aggressively growing in the Indian market and such strategic partnerships will not only fuel our growth at a faster pace but also provide investors with more opportunities to invest,” said Kundan Shahi, Founder and CEO of LegalPay.
This announcement comes just a couple of weeks after the New-Delhi based company raised an undisclosed sum from Venture Catalysts and Amity Technology Incubator. With this, Hedonova joins the list of prominent investors of LegalPay which includes 9Unicorns, LetsVenture and angel investor Ashwini Kakkar among others in its investor portfolio.
Talking about the recent infusion of capital, Suman Banerjee, Founder and Chief Investment Officer of Hedonova said, “The Fed’s interest rate hikes coupled with frothy emerging market valuations are going to attract institutional capital back to the US leading to underperforming equity markets. India’s high savings rate is rapidly being mobilised into financial assets and alternative assets are gaining momentum. LegalPay’s team has the required professional experience, high strength of character, and the drive to capture the alternative investment market in India. We have invested in their pre-series A and plan to keep backing the team in follow-on rounds as well.”
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