Madrid-based legaltech startup reclamador closes an investment round of €1.5 million to scale and expand its online legal services and digital development.
reclamador announces today the closing of an investment round for a value of €1.5 million that will allow entry to new shareholders in the company.
“This round will strengthen the company’s operations from a financial point of view while continuing to develop new digital functionalities that improve legal processes through the automation and scalability of the project,” said Pablo Rabanal, Founder and CEO at reclamador.
“This round reinforces the commitment to create a digital legal service that we have been developing since we were born. It is the necessary previous step to find a structural debt solution for the money we have in the courts. ”
This latest injection will also be used to develop a reinforced commercial strategy to increase reclamador’s number of clients.
Martin Varsavsky was the latest to join the project as a shareholder and Faraday Venture Partners and Cabiedes & Partners reinforced their position in the latest round.
Varsavsky is the well-known investor and creator of jazztel and fon (among others), through his investment vehicle VAS Ventures. Varsavsky is a member of the Advisory Council for Innovation in Justice, which was recently created by the Ministry of Justice.
The rest of the round was backed by partners such as Ebury Co-Founder Salvador García Andrés, and company directors Álvaro Azcárraga, Ignacio Martín de Andrés, Ramiro Salamanca, and Mateo del Río.
With more than 50,000 cases resolved, the startup has recovered €25 million in compensation for its clients so far and still has €70 million more wrapped-up in the courts.
reclamador is the pioneer company in the development of a new legaltech category of online legal services. Its growth has been exponential since its first billing in 2013 of €110,000 until the end of 2017 with €3.3 million.
This is the second round of investment in the history of the young online legal services company. Pablo Rabanal, Founder and CEO, initially invested €40,000, which was destined to create the network and assemble a three-to-four-person team with which to start capturing and managing clients.
The project was presented in the edition of the Campus SeedRocket 2012, and the mentors decided to grant reclaimer 1st prize of the event and invest €100,000 a few months later.