When it comes to technology-driven disruptions, India’s judicial system, like that of the rest of the globe, has lagged behind. Clients are unable to obtain legal services, and lawyers are finding it difficult to connect with new clients as a result of this.
This ecosystem is currently being brought into order by legaltech startups. LegalKart, situated in Gurugram, claims to give immediate round-the-clock voice and video legal consultations. This comprises, among other things, guidance, property verification, and online document verification.
The B2C (business-to-consumer) legaltech venture, founded in 2019 by National Law University Jodhpur grads Arvind Singhatiya, intends to democratize legal access.
Arvind, the company’s founder, and CEO has worked with companies such as Essel Group, Ola Cabs, MetroCash & Carry, ACME Solar, and the Federation of Indian Chambers of Commerce & Industry, to mention a few. Arvind claims that the difficulties he faced as a result of a scarcity of legal specialists in various parts of the country prompted him to create the platform.
The company features a website as well as an app. The LegalKart Practice Management App has been downloaded over 50,000 times and is available for both Android and iOS users.
How does LegalKart operate?
“LegalKart is not a legal service provider, nor does it solicit any kind of legal services,” Arvind explains, “but it is a technological platform that enables legal service providers to run their legal practice using its technology.”
Users are connected to available lawyers using “Smart Match Technology,” according to the startup. Lawyers may manage their cases, clients, team, and funds all in one place using the platform.
Lawyers can use the platform to assign projects, synchronize calendars, and access capabilities such as financial, client, document, and team management.
“LegalKart is a software-as-a-service (SaaS) platform for attorneys and legal companies. The calls are routed using smart match technology to ensure that no human intervention is required and that the calls are tailored to the consumer’s precise consultation requirements. It is a software that converts a physical law firm into a virtual one “Arvind explains.
In India, the startup claims to have over 10,000 registered lawyers in over 900 cities, districts, and regions. Lawyers must upload their Bar Council registration ID in order to utilize the LegalKart Practice Management App.
It also offers an empanelment feature for lawyers, as well as additional services. A year’s subscription costs between Rs 1,499 and Rs 4,999.
According to LegalKart, the most popular features on the site include voice notes, live case updates, lawyers’ collaborative network, the client connects, and one-click financial management. LegalKart claims to have serviced over 1.5 lakh customers through consulting and documentation.
LegalKart’s revenue model
With an initial investment of Rs 2.5 crore from personal resources, the creator bootstrapped LegalKart. LegalKart works with clients on a pay-per-minute basis. Consultation can take place at the user’s leisure at any time. A call must be at least 15 minutes long.
For audio and video consultations, the site costs Rs 599 to Rs 999 (depending on the number of minutes utilized); for startup services, Rs 1,999 to Rs 25,000; for property verification services, Rs 2,999 to Rs 9,999; and for documentation services, Rs 999 to Rs 35,000. This service cost is split between 15 and 45 percent by the startup. The rest goes to the attorneys.
“We’re a product company,” Arvind explains, “and we’re standardizing legal products with a fixed price, product description, and user ratings to enable end-users to choose and buy.”
According to the founder, small towns and Tier II and Tier III cities account for 30% of users. Furthermore, 20% of its users are from the United States, the United Kingdom, and the Middle East. LegalKart claims that 40% of its consumers return to its platform. It has a 15-person team.
According to Valuates Reports, the global legal service market was worth $680 billion in 2021 and is expected to increase to $824 billion by 2027, with a CAGR of 2.3 percent between 2021 and 2027.
LegalZoom, Rocketlawyer, and Clio are among the startup’s competitors. Ola, Rivigo, Shadowfax, Zoomcar, Springrole, Basic Home Loans, and Module Innovation are among LegalKart’s business clients.
Plans for the future
The portal provides services in ten distinct Indian languages to address the language gap in legal consultations. It offers services in Hindi, English, Tamil, Telugu, Malayalam, Marathi, Kannada, Assamese, Gujarati, and Bengali, among other languages.
In 2021, LegalKart also debuted the ‘Just Consult’ option on its website, which allows users to consult with verified lawyers 24 hours a day, seven days a week. In January 2022, Mumbai Angels, ShiftAlt Capital, AEVITAS Capital, and IIM Udaipur Incubation Centre launched a pre-Series A funding round for LegalKart, which raised Rs 4 crore.
The startup is in talks to seek a Series A fundraising round by the end of 2022 in order to scale in international markets like Southeast Asia, which is a significant target market for the company.