News Post

Leegality posts two-fold growth in FY23, controls burn

Entrackr · 1y

Leegality, a document infrastructure platform, secured $5 million in funding led by IIFL Fintech Fund, resulting in a two-fold growth in operating scale during FY23. The company offers eSign, eStamp, compliance, document security, and automation tools to businesses. Its operating revenue increased by 2.05X to Rs 33.5 crore in FY23. Leegality's major revenue channels were income from e-sign, subscription, and stamp, while employee benefits accounted for the largest cost center. Despite the growth, the company managed to reduce its costs, resulting in a 38.5% increase in losses. Leegality has raised a total of $6.63 million in funding and is valued at $38 million. It competes with other legaltech startups in India.