Incorp India has announced its investment of $10mn in Vakilsearch, a technology platform offering ‘cradle to nirvana’ support for small businesses and individuals with their legal, tax and compliance needs.
The transaction with InCorp India envisages a primary infusion accelerating tech and product development and sprucing up the marketing, sales and talent acquisition at Vakilsearch. Further, Kalaari Capital is also exiting its investment through the transaction.
Vakilsearch is one of India’s leading compliance tech solutions’ providers and offers services including incorporation, government registrations, corporate and tax filings, trademark filings, accounting, payroll and other support services to businesses.
During its journey, Vakilsearch has catered to over 80,000 small businesses among other clients, including over 30,000 businesses since the start of the pandemic alone, enabling over 10,000 new incorporations and over 8,000 trademark filings.
As a part of its growth, with its revamped tech platform to be launched by December 2021, the company is now pivoting from a transaction-based service provider to a client based advisory platform. The company shall offer multiple compliance and advisory solutions to its clients using AI, improving efficiency in operations and enhancing customer experience.
Earlier in 2015, private equity firm Kalaari Capital had invested about $ 2 mn in Vakilsearch. It had also raised an undisclosed sum from Udaan Co-founder Sujeet Kumar in 2020.
“The alliance with InCorp India presents us with an attractive opportunity and the power to implement our growth strategies. InCorp India, like Vakilsearch, prioritises quality and integrity through innovation,” said Hrishikesh Datar, Founder, Vakilsearch.
