Biz, Startups Can Now Pay Later For Expensive Legal Bills

Now businesses and startups, who have recently started or trying to become big, don’t have to worry about their legal expenses of upto Rs 50 lakhs. LegalPay, an Indian litigation and insolvency financier LegalPay, has introduced a pay later product called LegalPay Max to help businesses get finance to pay for legal services in instalments.

According to the company, LegalPay Max is the next generation of payment solutions for the legal industry and was developed in response to the growing demand for free financing options.

Kundan Shahi, Founder of LegalPay, said “With this new mode of financing, legal professionals can provide their clients with flexible payment options at no extra cost, thereby ensuring that all the focus and attentions stay on the case in hand.”

With LegalPay Max, businesses can avail a credit line up to Rs 50 Lakhs for all types of legal and professional expenses such as transaction, regulatory, advisory, arbitration, and other legal expenses and the same can be spread over a tenure of up to 6 months with no extra cost.

LegalPay Max Will Give Businesses More Control Over Their Finances

Using LegalPay Max, will give businesses more control over their finances, and the option will be available to businesses looking for more payment flexibility, allowing them to select their preferred legal professional based on their requirements.

The legal firms or professionals will receive their 100 per cent of fees immediately, the businesses utilising this option will have the buy now, pay later option.

“We are proud to solve the issue of legal expenses at large. The legal fraternity has welcomed LegalPay Max as it helps in providing financing for all types of legal expenses. Businesses and startups who have recently started or trying to become big have benefited from this offering as it covers financing of all different legal and compliance expenses. While LegalPay has already pioneered Litigation Funding, the Legalpay MAX platform is an embedded financing platform to finance all types of legal expenses” said Kundan Shahi.

Meanwhile, LegalPay has already partnered up with several NBFCs to provide legal financing and it has also made a strategic acquisition of a Gujarat-based NBFC to further accelerate such financing. With the help of this strategic partnership and deep understanding of legal expenses, LegalPay has built an end-to-end technology platform where businesses can sign up and avail the credit line for their legal expenses.

Recently, the Bar Council of India allowed foreign law firms and lawyers to practice law in India. The businesses now have a choice to reach out to the foreign law firms too.

There will be an increase in the total market for legal expenses. LegalPay MAX will help in such transactions as this will increase the ticket size or super charge clients to use the best of legal services available in India.