QuickLegal, a forward-thinking Romanian tech company, is redefining how legal and financial services are accessed by businesses of all sizes, lawyers, and individuals. Leveraging AI technology, QuickLegal provides a variety of essential services, including an automated B2B platform for invoice recovery, a marketplace for legal and translation services, a virtual office solution for lawyers, and even a robo-attorney able to share specific legal information.
Funding from EIT Digital to Fuel Technological Development
QuickLegal has recently secured €368,000 in funding from EIT Digital, Europe’s leading deep tech investor, and has been selected to join the prestigious Open Innovation Factory 2024 program. With this recognition, the company’s valuation has reached approximately €3.6 million.
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EIT Digital supports companies in accelerating the market adoption and scaling of research-based digital technologies. Their focus areas include finance, wellness, industry, and digital cities, providing participants with financial support and access to industry leaders and investors.
QuickLegal intends to use the funds to accelerate the development of its products, particularly its debt recovery automation software, in partnership with an Italian tech partner Santer Reply, part of the well-known Reply group. we. Additionally, the funding will enhance the company’s business model and go-to-market strategy by expanding its user base.
In the coming months, QuickLegal will benefit from mentoring, coaching, fundraising assistance, all part of the EIT Digital Speed Master training offered as part of the EIT Digital grant. The company will also gain access to a vast network of partners within EIT Digital’s innovation ecosystem across Europe, including corporates, the public sector, investors, and academia.
A Unique Debt Collection Solution for the Romanian Market
QuickLegal’s AI-driven debt collection software is a pioneering solution in Romania, offering a tailored solution for businesses of all sizes to streamline their cash-flow and recover unpaid invoices through automated, personalized workflows. This innovative product has now become the primary focus of development at QuickLegal.
The process starts with users uploading unpaid invoices and contracts, enabling the AI to extract key data for the collection process. Users can then personalize a recovery flow, including automated payment reminders and legal notices. If necessary, the process can escalate to a court claim, seamlessly prepared by the AI, with the option to engage one of over 160 QuickLegal lawyers registered on the platform to further assist.
The key benefits of this software include:
- Prompt and efficient invoice collection: Clients can recover unpaid invoices more quickly, avoiding legal action and maintaining a healthy cash flow.
- Maintaining contractual relationships: The process is designed to preserve relationships with the clients, ensuring long-term collaborations without tension.
- Saving time and money: Automation saves valuable time and significantly reduces administrative costs, allowing companies to focus on core business activities.
- Low cost: QuickLegal is committed to keeping costs low, understanding the financial challenges faced by SMEs.
Bright Prospects Ahead
QuickLegal’s rapid development has earned it a place at Station F, the world’s largest and most prestigious startup campus, located in Paris. This milestone makes QuickLegal one of the few Romanian companies to be part of Station F, also known as the French Silicon Valley, potentially paving the way for future Romanian startups.
QuickLegal has also joined forces with BCR, part of Erste Group and one of Romania’s largest commercial banks. This partnership brings QuickLegal’s services to the George Store, where businesses can now access them at a 20% discount after the free trial period.
For more information on the platform or to book a demo of QuickLegal’s debt collection solution, interested companies, individuals, or lawyers are invited to visit www.quicklegal.ro or contact QuickLegal at contact@quicklegal.ro
