French legaltech Closd has snapped up €600K from major players in the legal and tech sectors, in particular Eric Larchevêque (co-founder of Ledger), the Spanish law firm Cuatrecasas, plus the French firms LPA-CGR and Orion. The team will use the funds to accelerate its growth in Europe and to intensify the development of new features.
The brainchild of former business attorneys, Closd aims to simplify, digitise and secure the interactions between legal counsels and their clients. How does it plan to do this? Through its unique transaction management platform, which allows stakeholders to easily manage legal transactions from end-to-end (data room, workflow management, electronic closing, bibles and archiving). The experience is 100% digital and has an intuitive, user-friendly interface.
Eighteen months after its creation, Closd helps more than 70 law firms and companies in 4 countries to carry out their legal transactions. More than 5,000 users have completed more than 800 transactions of all types on the platform (corporate, finance, real estate, commercial agreements, litigation, etc.).
“We are happy and proud to have finalized this fundraising with people who bring us real legal and tech expertise in addition to funding. Together, we will transform the way businesses make deals. It is now essential to digitize and automate these transactions, which are of paramount importance for companies and to allow legal advisers to focus on their expertise rather than on the processes,“ said Grégoire Debit, CEO of Closd.
In the context of the Covid-19 pandemic, Closd is committed to supporting businesses and to mitigate the slowdown of business activities. The legaltech will make its services available for free until the end of April, to allow law firms and businesses to organize quickly and face the crisis.
“In these circumstances, it felt normal to show solidarity by offering our solution for free to those who need it. We hope that the activity will carry on as much as possible, and that Closd can be useful in this respect since the transactions can be completely dematerialized“, commented Nathaniel Merino, Managing Director of Closd.