IIFL Fintech Fund, backed by monetary providers conglomerate IIFL Group, has acquired secondary shares value Rs 21 crore in doc infrastructure startup Leegality.

The transaction marks a follow-on transfer by IIFL Fintech Fund, which first invested in Leegality in 2022.

“IIFL Fintech Fund has bolstered its conviction in Leegality by doubling down on its funding by way of its Sequence II fund, buying a further stake through a secondary transaction,” a spokesperson for the fund stated.

Based in 2016 by Prakhar Agrawal, Sapan Parekh and Shivam Singla, Leegality focuses on digitising paper-heavy enterprise workflows. The startup supplies end-to-end digital doc logistics and affords utility programming interfaces that assist e-signatures throughout a number of expertise stacks, together with BharatSign, Nationwide E-Governance Companies Restricted and BharatStamp.

Its platform additionally consists of signer verification, automated verification workflows, doc monitoring and security measures, alongside client-specific pricing fashions. Leegality’s choices are structured throughout 4 plans designed for people, companies and enterprises.

Following the rollout of the Digital Private Knowledge Safety (DPDP) Act and its rising acceptance amongst giant organisations, Leegality has positioned itself as an early mover in DPDP adoption. It just lately launched Consentin, a product designed to assist enterprises handle end-to-end DPDP compliance. Consentin has begun seeing traction, with greater than 10 implementations underway throughout public sector and personal banks, non-banking finance firms and manufacturing corporations.

In January, IIFL fintech Fund closed its second fund after elevating Rs 200 crore from home household places of work and excessive internet value people, offering it with recent capital to again fintech and regulatory infrastructure firms throughout levels.