AvvocatoFlash, the first LegalTech platform in Italy to have digitised the process of searching for a client and hiring a legal professional, has completed a new €594,000 investment round with the Fondo Rilancio Startup fund managed by CDP Venture Capital Sgr and co-investors LVenture Group, Biz Angels and a pool of Business Angels.
AvvocatoFlash is a startup founded in 2019 by three young professionals with experience in the legal, technology and marketing fields. Already participated by LVenture Group, an investment holding company listed on the Euronext Milano (EXM) market of Borsa Italiana that invests in digital startups, after concluding its LUISS EnLabs acceleration programme in 2019, in July 2020 it raised through a Crowdfunding campaign on the MamaCrowd platform more than 300,000 euro and, subsequently, in April a year ago it obtained a 150,000-euro loan from Intesa Sanpaolo.
Through AvvocatoFlash – Italy’s leading online legal services platform with over 30,000 managed users and 250 lawyers in its network – individuals and businesses can find a legal professional in the area required and with the specific skills needed. The service guarantees the client the receipt, within 24 hours of its activation of up to three quotations from lawyers who are experts in the subject matter of the request.
“We are thrilled,” said Guglielmo del Giudice, Co-founder of AvvocatoFlash, “those important investors have placed their trust in our start-up, accompanying us in our development plan. With the new resources, we want to develop new technologies to increase our commercial expansion and the development of new products that enable the resolution of legal problems in an easy, fast, and affordable way for users“.
“Digital transformation,” said Luigi Mastromonaco, Head of Investments and Exits at LVenture Group, “is also having a strong impact on more traditional sectors, such as the legal sector. Professionals and law firms increasingly need to reach new potential clients online and our platform aggregates the growing demand for legal services through a qualified offer in a simple and intuitive way. LegalTech is expanding rapidly, with investments in start-ups in the sector exceeding $1 billion globally for the first time in 2021, and innovative companies operating in the sector have exciting growth opportunities“.