InCorp India, the Indian arm of Singapore-headquartered InCorp Global invests $10 million in the legaltech platform Vakilsearch.
The deal will accelerate tech and product development and will help spruce up the marketing, sales and talent acquisition at Vakilsearch. It will also help transition from a transaction-based service provider to a client-based advisory platform, the company said.
Founded in 2010 by Hrishikesh Datar, Vakilsearch helps businesses with registrations, incorporations, accounting, filing, annual compliance, and legal documentation. The startup further offers several need-based services such as tax filings, property agreements, and consumer rights protection.
“InCorp has a presence in several geographies where Vakilsearch is currently not present and hence this partnership will in evaluating and scaling beyond India. InCorp also has one of the largest pools of legal, taxation and compliance professionals on their roster, and this base will provide tremendous value to our customers” said Hrishikesh Datar, Founder Vakilsearch
The company has catered to over 80,000 small businesses among other clients, including over 30,000 businesses since the start of the pandemic, enabling over 10,000 new incorporations and over 8000 trademark filings.
“The alliance with InCorp India presents us with an attractive opportunity and the power to implement our growth strategies. InCorp India, like Vakilsearch, prioritizes quality and integrity through innovation. Our clients can expect a disruptively brilliant experience in the years ahead, where we leverage InCorp India’s deep domain knowledge and combine it with Vakilsearch’s cutting edge technology solutions and platform” added Hrishikesh
Earlier, Vakilsearch had been backed by investors such as Kalaari Capital, and Microsoft’s venture fund M12, among others. It competes with the likes of LegalWiz, Business Setup, Indiafillings, LawRato, and Cleartax, etc.