LegalPay: Revolutionizing Justice Access in India Through Innovative Litigation Financing and Technology
CXOToday has engaged in an exclusive interview with Mr. Kundan Shahi, the founder and CEO of LegalPay
1- Tell us about the startup ?
LegalPay is an innovative startup founded in 2021 by Kundan Shahi, focused on transforming the landscape of litigation financing in India. With a mission to eliminate the financial barriers that often prevent individuals and businesses from seeking justice, LegalPay operates under the principle that “justice delayed is justice denied.” The company aims to fund a significant number of cases and manage claims worth ₹6,000 crore, demonstrating its commitment to enhancing access to justice in India.
2- What are the Products / Services offered by LegalPay?
LegalPay offers a range of services to alleviate the financial strain of legal disputes. Their litigation financing service supports businesses in commercial disputes, covering legal costs and allowing them to pursue cases without upfront fees. The Bharat Dispute Resolution (BDR) platform utilizes technology to streamline online dispute resolution through mediation and arbitration, enabling quick and efficient resolution of disputes.
3- Share the Founders details (background, what led to start legalpay) ?
Kundan Shahi, hailing from a modest background in Bihar, established LegalPay with the vision of making justice accessible to all. After earning a degree in Computer Applications and working across various roles, Kundan founded Advok8, a legal tech company. However, realizing that high litigation costs still prevented many from seeking justice, he launched LegalPay in 2021, aiming to address this financial challenge.
4- Tell us the current scenario of Litigation Financing in India, background and the way forward.?
The demand for litigation financing has become increasingly evident in India, where high legal costs have historically hindered access to justice. LegalPay has already funded over 44,000 commercial cases and managed claims worth ₹2,800 crores (approximately $340 million). However, the potential market remains vast, especially among smaller businesses and individuals facing financial hardships. LegalPay aims to bridge this gap and expand its services to underserved groups.
5- Share some insights on the Role of technology in litigation sector.
Technology plays a vital role in LegalPay’s operations. The company leverages advanced tools to improve efficiency and transparency throughout the litigation process. Clients benefit from real-time dashboards, keeping them informed about their case and funding progress. LegalPay’s proprietary technology streamlines due diligence, allowing for faster funding decisions and manageable repayment plans.
6- What is the impact created by the startup ?
LegalPay has made a significant impact on the legal landscape in India, ensuring that individuals and businesses can pursue justice without the worry of financial constraints. With a success rate of over 90%, LegalPay has earned a reputation for its diligence and expertise in supporting litigants. Their funding model ensures that access to justice is based on the merit of a case, not financial capability.
7- What are your Future plans?
Looking to the future, LegalPay has plans for substantial growth, targeting an increase in claims under management to ₹6,000 crore. The company intends to continue innovating with technology-driven solutions and forming strategic partnerships within the legal ecosystem. LegalPay aims to create a collaborative environment that benefits all stakeholders, ensuring greater access to justice for people across India.
In summary, LegalPay is reshaping the way justice is accessed in India by offering innovative financing solutions and leveraging technology to break down financial barriers. The company is paving the way for a more equitable legal system where everyone can seek justice, regardless of their financial standing.
