Legal tech startup Vakilsearch has raised $ 10 million from InCrop India. The investment round also saw the participation of existing investors Udaan Sujeet Kumar and new investors such as Manish Modi, CEO of Incrop India.
With this investment round, the start-up looks forward to product development, sales & marketing, and hiring activities. This startup offers services such as incorporation, government registrations, corporate and tax filings, trademark filings, accounting, payroll, etc
Launched by Harishikesh Datar in December 2021. So far, Vakilsearch is transitioning from a transactional service provider to a client-centric advice platform. Since the start of the pandemic, the growth of the start-up claimed over 80,000 small businesses and other clients, including over 30,000 businesses, enabling over 10,000 new incorporations and over 8,000 trademark registrations. It has been a four times increase in revenue than last year and expecting significant growth.
Hrishikesh, Founder of Vakilsearch, said, “The alliance with InCorp India presents us with an attractive opportunity and the power to implement our growth strategies. InCorp India, like Vakilsearch, prioritises quality and integrity through innovation. While InCorp continues to expand its capacity to service more businesses digitally, the Vakilsearch relationship will become the fulcrum of how we see this space,” said Inderpreet Chadha, Head, M&A, InCorp India. Our worldview is based on data-driven insights and analytics, and Vakilsearch’s platform gives us the foundation we need to construct the Compliance Tech platform of the future.”
Manish Modi, CEO of InCorp India, said, “With this investment, we will leverage the strengths of Vakilsearch and accelerate our artificial intelligence (AI) and machine learning (ML) initiatives. Vakilsearch will increase the depth of its service offerings by augmenting the technical capabilities and global best practices of InCorp India.”
Inderpreet Chadha, Head-M&A at InCorp India, said, “While InCorp continues to extend its capabilities to service more businesses digitally, the Vakilsearch partnership will become the fulcrum of how we see this space. Data led insights and analytics are the core of our philosophy, and the platform built by Vakilsearch provides us with the building blocks to create a Compliance Tech platform of the future.”