LegalPay, India’s first litigation funder and legal solutions provider, has announced the launch of a zero-interest credit line for enterprises, startups,individual business owners, and freelancers to settle legal disputes while preserving their working capital. LegalPay aims to disburse INR 200 crore in 2024through its own NBFC Padmalaya Finservealong with other partner NBFCs.
Named Quick Settle, this innovative structured financing is designed to streamline the resolution of legal disputes with a flexible 6–12-month repayment plan, enabling parties to resolve conflicts without depleting their working capital.
In a move set to transform legal finance in India, Quick Settle aims to facilitate amicable dispute resolution 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.
Kundan Shahi, Founder and CEO of LegalPay, said, “Our vision is to bridge the gap between legal disputes and swift resolutions. Quick Settle is not just a financial product. It catalyzes change, fostering a culture of collaboration and resolution. By allowing defendants to manage their working capital efficiently through a zero-interest repayment cycle, we aim to foster a more conducive environment for businesses to thrive.Quick Settle embodies years of litigation funding expertise, adopting a tailored approach because we understand that one size does not fit all. This structured financing option enables defendants to settle claims seamlessly, alleviating the stress of legal battles without compromising their working capital.”
Quick Settle is expected to disrupt innovation in legal finance, specifically tailored to improve the efficiency of the Indian judicial system,which is currently burdened with an overwhelming backlog of 61 lakh cases in the country’s 25 High Courts.
By offering defendants manageable repayment options and claimants immediate settlement funds, Quick Settle aims to streamline the judicial process and foster a culture of amicable resolutions.
Founded in 2019, LegalPayhas funded over 44,000 commercial cases and underwritten a staggering 92,000 cases nationwide. With Quick Settle, LegalPay aims to further disrupt a potential $200 Billion market by bringing financial relief to businesses and having a positive social impact by expediting dispute settlements.
Quick Settle ensures that the businesses receive their claim amount on day one, thus proving to be a game-changer for companies looking to bolster their financial strength.
With QuickSettle, companies can navigate conflicts without lawsuits, preserving valuable business relations with vendors and customers.
About LegalPay:
LegalPay is a leading name in the Indian litigation funding market, dedicated to providing comprehensive financial solutions to individuals and businesses involved in legal disputes. Currently managing over INR 2800 Crores worth of claims, LegalPay has emerged as a leader in litigation funding, bridging the gap between legal expertise and financial solutions with a focus on innovation, transparency, and client satisfaction.
