Delhi-based tech platform that simplifies legal and business matters. LegalRaasta has raised $1 million (INR 7 Cr) in angel funding from HNI’s, Pravin Khandelwal and Yatin Kumar.
LegalRaasta.com helps entrepreneurs and SMEs with government compliances via simple and trouble-free DIY forms. Currently, it provides 50+ services (including company registration, food license, import-export code, service tax registration, and trademark filing).
The start-up charges the customer a nominal fee for processing their work and for submission of documents to government departments. Customers make payments online and get status updates via its CRM system.
LegalRaasta was Founded by former McKinsey employee Himanshu Jain and his brother Pulkit Jain. This Portal operates on a cash-on-delivery model. It offers a money-back guarantee.
Himanshu Commented on their differentiation factors. Saying that “It is a completely tech-based platform that collects information via simplified DIY forms”. This information is automatically fed to required government forms/departments, saving 40% time and 45% cost.
“Our DIY forms are dynamic and adapt to customer inputs. Customers get automated SMS’s, E-mails and reminders at each stage. They can check their work progress through the live customer work tracker”… Team Said,
The start-up plans to use the newly raised capital to expand its team and operations (set up full-service offices in metropolitan cities), technology improvement and add more services, including legal documentation and licenses.
The company planning to launch two new products, including LegalRaahi.com (marketplace for CA, CS, and Lawyers) and Taxraahi.com (online return filing portal for ITR and TDS returns).
The legal services and compliance market has been pegged at over Rs. 20,000 crores, growing at a rate of 25% p.a. of this. Only 3 % of p.a. has been penetrated by the existing online players.
The market conditions at present are most conducive to the growth of online legal services. Customers are underserved with the need for economical, reliable, and fast legal services.
LegalRaasta plans to make a dent through better technology and operations. Looks like to target a 2-4% share of this 20,000 crore market over the next three years.
The start-up currently has 25 members. Operates in 30+ cities with 2200 customers. 11000 daily inquiries, and its revenue growing at 40% per month.
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