Ahmedabad: One of the worst after-effects of the Covid-19 pandemic on the economy was perhaps the loss of jobs and consequently shrinking workforce. Bucking the trend of laying-off employees, Ahmedabad-based legal-tech startup, Legalwiz.in didn’t just begin hiring in November, it is in fact, looking to double its workforce by financial year 2021-22. The startup currently serves at least 5,000 firms across India, aiding them in legal, financial and taxation-related compliances.
“Post-Covid, our revenues were at highest-ever levels, growing at 20% quarter-on-quarter in the first three quarters of 2020-21. With the increased digital push, we gained several new customers, who wanted to reduce their dependence on legal professionals operating out of brick-and-mortar chambers and turned to our company,” said Shrijay Sheth, founder, Legalwiz.in.
“Our market share also grew. From our current team strength of 40 people, we are looking to double our workforce to 80 people by the end of 2021-22,” Seth said.
Started in April 2016, the startup currently caters mainly to small and medium enterprises. “While working with a legal technology firm in the US, I realized the need for a slew of compliances on legal, financial, corporate and taxation fronts. I saw an opportunity there as many small and medium enterprises face challenges to address piling compliance burdens given the inherent complexities in the system,” said Sheth.
“Our platform aids smaller enterprises in meeting this compliance requirement easily through a digital platform,” adds Sheth, who completed his postgraduate diploma in investment and financial analysis in San Diego. Prior to founding Legalwiz.in, he has worked with several hyper-growing tech-companies and e-commerce firms too.
The startup recently raised funding worth Rs 3.8 crore from Contcentric IT services private limited, an enterprise content management firm. With the fresh funding, the startup plans to enhance its technology capabilities to improve its offerings.
“We will deliver better customer and user experience through improvised technology by automating business operations, and boosting efficiency. We will introduce new tools to help users better manage their taxation-related compliances coupled with other business processes,” said Sheth.
As on date, the startup caters to clients such as Bank of Baroda, Dev Accelerator, Hubilo, and a few other media companies besides SMEs in the technology, food and beverage, real estate and chartered accountancy sectors among others, across India. “Our clientele primarily comes from bigger cities which have a good startup ecosystem such as Delhi, Noida, Gurgaon, Hyderabad, Mumbai, and Bengaluru, among others,” Sheth added.