Litigation and interim finance startup LegalPay acquired a minority stake in Padmalaya Finserve

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Litigation and interim finance startup LegalPay acquired a minority stake in Padmalaya Finserve

Litigation and interim finance startup LegalPay acquired a minority stake in Gujarat-based non-banking financial corporation (NBFC) Padmalaya Finserve.

According to the statement, the strategic partnership between LegalPay and Padmalaya will enable the business to provide financing for legal expenses. In accordance with the agreement, Padmalaya will disburse a credit for legal costs totaling INR 1,000 Cr. In the meantime, the acquisition will assist LegalPay in expanding the scope of its business legal financing options. Initially, LegalPay allowed companies to use a credit of up to INR 50 Lakh to cover their legal expenses. The change occurs almost a month after LegalPay launched the Justice and Inclusion (JAI) fund, a $2 million equity fund that supports legaltech startups aiming to promote financial inclusion.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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Litigation and interim finance startup LegalPay acquired a minority stake in Gujarat-based non-banking financial corporation (NBFC) Padmalaya Finserve.

According to the statement, the strategic partnership between LegalPay and Padmalaya will enable the business to provide financing for legal expenses. In accordance with the agreement, Padmalaya will disburse a credit for legal costs totaling INR 1,000 Cr. In the meantime, the acquisition will assist LegalPay in expanding the scope of its business legal financing options. Initially, LegalPay allowed companies to use a credit of up to INR 50 Lakh to cover their legal expenses. The change occurs almost a month after LegalPay launched the Justice and Inclusion (JAI) fund, a $2 million equity fund that supports legaltech startups aiming to promote financial inclusion.

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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