Udaan co-founder backs legal-tech startup Vakilsearch in bridge round

Udaan co-founder backs legal-tech startup Vakilsearch in bridge round
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21 May, 2020

Vakilsearch, an online platform for legal, tax and compliance services operated by Chennai-based Uber9 Business Process Services, has raised an undisclosed amount in a bridge funding round from Sujeet Kumar, co-founder of Udaan.

Other investors who participated in the round are Kalaari Capital, Navneet Chugh -- chairman of Chugh LLP and Rajeev Luthra of Luthra and Luthra law firm, a company statement said.

The company dubbed the round a ‘pre Series B’ round.

According to the statement, the company has raised $3 million in total till date.

With the fresh capital, the company intends to invest in new product development, launching into new markets and IP development.

“At Vakilsearch, we have always focused on providing businesses and individuals a trouble-free experience. With an Amazon rivaling NPS score of 56 and an average rating of 4.2/5 from 1400 verified Google reviews behind us, we are delighted to tie up with Sujeet to expand our leadership position,” said Hrishikesh Datar, founder and CEO of Vakilsearch.

Datar founded Vakilsearch in 2011. He is an alumnus of the National Law School, Bangalore.  The company was started with a capital of Rs 30 lakhs. Vakilsearch helps businesses with registrations, incorporations, accounting, filing, annual compliance and legal documentation. The company further offers several need-based services such as tax filings, property agreements and consumer rights protection. 

Prior to co-founding B2B e-commerce platform Udaan, Sujeet Kumar was president of operations at Flipkart.

“Vakilsearch has soared high to a leadership position in the fast-growing legal tech market and the company’s drive to pursue more is exceptional. Really proud that 10% of all Indian Pvt. Ltd. companies seek them out for help with registration and filings. Vakilsearch is a great example of a capital-efficient business solving an age-old problem with cutting edge technology, and thereby transforming the ecosystem.” said Kumar. 

Vakilsearch competes with companies like NovoJuris and Legal Raasta for many of its services.