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

Share via:

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

You can now use the Microsoft Copilot bot on...

Copilot is a chatbot based on OpenAI’s GPT-4...

China’s $47B semiconductor fund puts chip sovereignty front and...

China has closed a third state-backed investment fund...

AI models have favorite numbers, because they think they’re...

AI models are always surprising us, not just...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!