Legal services start-up Lexoo raises $400,000 to disrupt the industry
Company’s lawyers have already for worked for industry heavyweights including Netflix, Vodafone and Channel 4
Lawyer-matching service Lexoo has secured $400,000 from investment firm Forward Partners and chairman of JustGiving, Jonathan Mckay.
Launched in July 2014, the London-based start-up is a free service that claims to save businesses an average of 46% on legal fees by allowing them to compare fixed price quotes from a selection of hand-picked specialist lawyers.
The company claims to have grown 30% month on month having generated more than 1,000 quotes to date.
In a market that’s not exactly the obvious first choice for tech start-ups, and with businesses taking steps to remedy its unaffordable rates and inherent problems – Lexoo look set to use this funding to facilitate some much needed changes in an antiquated sector.
Lexoo CEO and c0-founder, Daniel van Binsbergen, commented: “On a global scale, legal start-ups attracted some $750m in funding over 2013/14. They’re aiming at a £716 bnglobal market – the opportunities are everywhere”.