Vakilsearch is an online legal, tax and compliance platform. It provides services in company incorporation, accounting, auditing, IP, registration, documentation, etc. The company has also developed a SaaS product called Libra that helps lawyers with practice management, workflow management, research and billing. The company eventually wants to be a market place for legal services.
Why Did Kalaari Invest in Vakilsearch?
The current Indian legal outsourcing market is large ($1B+) but highly fragmented, with several players (individual and firms) offering limited services.
It’s challenging to find the right legal team to provide a bouquet of services related to company incorporation, regulatory documentation, tax registration, trademark and IP, secretarial services, accounts and financial services, clerical and non-typical licenses, and registrations.
Vakil search through its marketplace model has the potential to emerge as a market leader in the next 4-5 years with the correct business execution.
The business has attractive margins in each of the service categories – margins for incorporation @ 45%, documentation @ 90%+, registrations @ 20%, IP @ 40% etc. The management team has the right expertise in the legal and technology domain. Read more