LegalPay bills itself as India’s ‘first homegrown litigation finance company.’ The business was founded in 2020 by Kundan Shahi, and strives to expand the reach of legal funding as both an alternative asset class and a means to increase access to justice.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
LegalPay bills itself as India’s ‘first homegrown litigation finance company.’ The business was founded in 2020 by Kundan Shahi, and strives to expand the reach of legal funding as both an alternative asset class and a means to increase access to justice.
Financial Express details that LegalPay focuses on cases nearing completion, or in the latter stages. Most funds are raised through large family offices in India. What’s unique about LegalPay is that it broadens the range of investors that can allocate capital into Litigation Finance.
Shahi explains that regardless of net worth, anyone can take part in this alternative asset class. Democratizing access via a proprietary tech platform was instantly popular—as the first SPV launched was oversubscribed, then closed in an uncommonly short amount of time.
LegalPay is a data-driven, tech-focused funder with a high bar for those seeking funding. Every case must pass a 15-point vetting system via a unique algorithm which ensures that only the most viable reach the legal team.
In the short term, LegalPay hopes to create a banking system within the legal industry similar to what’s happening in the Indian agricultural sector.
