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European law firm Fieldfisher has invested - as part of a £1m investment round - in SeedLegals, the world’s first automated legal service for start-up funding rounds.
The SeedLegals platform allows start-ups and investors to negotiate, sign and close their deal, in minutes, from any connected device, reducing the time and cost to complete the investment process by up to 90%. The platform integrates every component of a funding round into an automated process. Using the platform can reduce the time of doing a funding round from the 3 month industry average to a matter of days.
SeedLegals has just closed its funding round - using their own platform.
Tim Bird, a partner in the Corporate team who led the initiative says, "SeedLegals is an efficient and cost-effective way for start-ups to manage their legal documentation. At Fieldfisher we know the sector is changing, and we need to adapt to provide clients with the best and most effective tools, as such, we are always looking at news ways to innovate. When I saw the product in action, I knew it was something that would be of great value to clients and it made sense for us to invest in the platform. As the developer of iPlayer, Anthony knows how digital works and what audiences want, I think this is a game-changer for the corporate legal world."
Founder and CEO of SeedLegals Anthony Rose adds, "SeedLegals is looking to change the way the corporate legal market operates. Technology has always been a disrupter and we hope that our platform will do this for start-ups and their legal document needs. We are delighted that Fieldfisher saw the potential with the platform. This is just the first stage, and we are looking to develop it to cover other areas of law as well. We are excited to be working with Fieldfisher to develop this further."