Founded in June 2015 by Himanshu Jain and Pulkit Jain, Legal Raasta Technologies Pvt Ltd, which provides legal services to entrepreneurs, SMEs and professionals over its online platform Legalraasta.com, has raised $1 million in angel funding. The round was led by two HNIs – Praveen Khandelwal and Yatin Kumar.
The raised funding will be used by the startup to expand its team & operations (set up full service offices in metropolitan cities), technology improvement and to add more services including legal documentation and licenses. The company is also planning to launch 2 new products including: LegalRaahi.com (marketplace for CA, CS & Lawyers) and Taxraahi.com (online return filing portal for ITR and TDS returns).
LegalRaasta.com helps customers with registrations, licenses and tax filing done via simple and trouble free DIY forms. Currently it provide 50+ services (e.g company incorporation, food license registration, import export code, service tax registration and trademark filing). The startup charges the customer a nominal fee for processing their work and submission of documents with government departments. Customers make payment online and get status updates via its CRM system.
Legal services and compliance market has been pegged at over Rs. 20,000 crore, growing at rate of 25% p.a. Of this, only 3% has been penetrated by the existing online players. The market conditions at present are most conducive to growth of online legal services. Customers are under-served with need for economical, reliable and fast legal services.
LegalRaasta plans to make a dent through better technology and operations. It target 2-4% share of this 20,000 crore market over the next 3 years.
The company’s target audience include entrepreneurs, SMEs and professionals. It offer them standardized professional services at approx 50% cost saving. The startup offers services in more than 30 cities across India.
Commenting on their differentiation factors, Himanshu said, “Existing players in the market are a typical lead-based companies, with manual processes for collecting customer information, document submission etc. LegalRaasta.com is a completely tech-based platform which collects information via simplified DIY forms – this information is automatically fed to required government forms/ departments, saving 40% time & 45% cost. Our DIY forms are dynamic and adapts to customer inputs (e.g, subsequent questions changes automatically based on customer inputs such as customer city, no of directors etc). Customers get automated SMSs, emails, and reminders at each stage of the customer lifecycle. They can check their work progress through live customer work tracker.”
The startup consists of 25 members in its team, 2200 customers, 11000 daily enquiries and its revenue growing 40% per month.
Going forward, its vision is to develop a fully integrated cloud-enabled platform for hassle-free and reliable legal and financial services. In the year ahead, the startup will focus on improving LegalRaasta.com and expanding sales. The company will setup full service offices in 6+ cities. In parallel, it have planned multiple other products to simply legal and government compliance for its target customer segment.
Check out the below video to know more about Legal Raasta: