We are a little late reporting on our friends at Lexoo‘s exciting news – last month they raised $1.3 million in a funding round. Nice work team Lexoo, flying the flag for LawTech in London!
Lexoo launched in July 2014 providing an on-demand marketplace to connect clients, often London startups, with validated lawyers for “free”. The revenue model is a ‘win win’ with a rev share coming off the lawyer’s fee, but of course the lawyer pays no marketing costs.
Lexoo founder, Daniel van Binsbergen spoke at our event in August about his fascinating story into the world of Law Tech startups. Daniel, a former City lawyer, started Lexoo after friends began asking him for lawyer recommendations. With the help of a simple brochure website and a web form Lexoo was born. With this validation Daniel went to Forward Partners, who invest in early stage startups (idea – seed stage). Forward Partners often invest in people who are experts in a field, be it law or heath care.
We have personally used Lexoo and this is how it works:
- You request a quote and fill in a simple form explaining your problem/job
- You receive a quote document from a qualified lawyer, normally three quotes are sent through within 24 hours
- You choose your lawyer and pay them when the work is done 🙂
The business model is straight forward, but the simple ideas are often the best. London is becoming a hub for law tech alongside the US. Interestingly Daniel is from Holland, where there is also a strong law tech startup community.
Well done guys and hopefully investors will continue to invest in Law Tech to allow us to disrupt, improve and innovate in the delivery of legal services.