New funding option helps firms resolve lawsuits.

January 16, 2024
1 min read

On the eve of National Startup Day, Gurugram-based litigation finance start-up LegalPay has launched a ₹200 crore zero-interest credit line for businesses to settle legal disputes.

The start-up aims to disburse ₹200 crore in 2024 through its own NBFC Padmalaya Finserve along with other partner NBFCs.

Named Quick Settle, this structured financing is designed to streamline the resolution of legal disputes with a flexible 6–12-month repayment plan.

LegalPay aims to bridge the gap between legal disputes and swift resolutions by enabling parties involved in disputes to settle claims without impacting their working capital through a zero-interest credit line offered to the defendants with a flexible 6–12-month repayment cycle.

The start-up expects Quick Settle to disrupt innovation in legal finance, tailored to improve the efficiency of the Indian judicial system, currently burdened with an overwhelming backlog of 6.1 million cases in the country’s 25 high courts.

Founded in 2019, LegalPay has funded over 44,000 commercial cases and underwritten 92,000 cases nationwide. With Quick Settle, LegalPay aims to further disrupt a potential $200 billion market by bringing financial relief to businesses and expediting dispute settlements.

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