Incorpo India invests $ 10 million in Vakilsearch

Incorpo India invests $ 10 million in Vakilsearch
Chennai: Incorpo India announced on Thursday its $ 10 million investment in compliance technology platform Vakilsearch, which supports small businesses and individuals with their legal, tax and compliance needs.

InCorp India said the transaction provides for a primary injection that will accelerate product and technology development and improve marketing, sales and talent acquisition at Vakilsearch. Additionally, Kalaari Capital is also exiting its investment through the transaction.

Vakilsearch provides compliance technology solutions and offers services including incorporation, government records, corporate and tax filings, trademark filings, accounting, payroll, and other business support services.

“Our clients can look forward to a disruptively brilliant experience for years to come, where we leverage InCorp India’s deep domain knowledge and combine it with Vakilsearch’s cutting edge technology platform and solutions,” said Hrishikesh Datar, Founder of Vakilsearch.

The platform has served more than 80,000 small businesses among other clients, including more than 30,000 businesses since the inception of

just the pandemic, which allowed for more than 10,000 new additions and more than 8,000 trademark registrations.

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“With this investment, we will leverage the strengths of Vakilsearch and accelerate our Artificial Intelligence (AI) and Machine Learning (ML) initiatives. Vakilsearch will increase the depth of its service offerings by increasing the technical capabilities and global best practices of InCorp India, “said Manish Modi, CEO of InCorp India.

He added that with the compliance and reg technology space that is ready for disruption, the knowledge and technology intensive partnership between Incorp India and Vakilsearch is not only unique but also pioneering.

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Vakilsearch’s revamped technology platform will launch in December 2021. The company is transitioning from a transaction-based service provider to a client-based advisory platform. The company will offer multiple compliance and advisory solutions to its clients using AI, improving efficiency in operations and enhancing the customer experience.

“Data-driven insights and analytics are at the core of our philosophy, and the platform built by Vakilsearch provides us with the building blocks to create a compliance technology platform of the future. Going forward, we will continue to seek partnerships with traditional consulting companies and continue to pursue complementary acquisitions to accelerate the compliance technology platform, ”said Inderpreet Chadha, InCorp India Director of Mergers and Acquisitions.

As of early 2015, private equity firm Kalaari Capital had invested approximately $ 2 million in Vakilsearch. He had also raised an undisclosed sum from Udaan co-founder Sujeet Kumar in 2020.

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