LegalPay eyes $1 billion claims under management by 2024

Bengaluru, 7 March: LegalPay, India’s leading litigation funding company, on Thursday said it aims to double the claims under management at $1 billion along with addition of 4000 new cases every month by the end of2024.

According to the company, it has already managed claims worth $400 million since 2020empowering over 1,000 businesses to recover their pending dues and navigate legal complexities.

Commenting on the development, Founder & CEO, Kundan Shahi said,“Reaching this significant milestone fills us with immense pride as we have helped over 1,000 businesses to navigate complex legal complexities, amounting to around 40,000 disputes. It reflects our commitment to empowering businesses with innovative financial solutions to manage their legal challenges.”

LegalPay has leveraged technology to enable its clients to navigate complex legal challenges. The company’s proprietary risk assessment algorithm fosters balanced risk management forfunded cases, while the groundbreaking notice automation system allows for the effortlessdispatch of up to 20,000 notices with a single click.

LegalPay recently launched QuickSettle, a complimentary service to its core litigation funding offering. This innovative solution provides creditors with immediate access to their pending dues, bolstering their working capital and providing much-needed liquidity. At the same time, debtors benefit from the flexibility of no-cost EMIs, facilitating disputere solution without compromising their financial stability.

“At LegalPay, our mission has always been to empower businesses and provide them with the tools they need to thrive. With QuickSettle, we are taking a giant leap forward in achieving this goal. By revolutionizing the debt recovery process and minimising the financial strain on both creditors and debtors, QuickSettle epitomises our commitment to innovation and client-centric solutions,” Shahi said.