IIFL Fintech Fund, backed by financial services conglomerate IIFL Group, has acquired secondary shares worth Rs 21 crore in document infrastructure startup Leegality.
The transaction marks a follow-on move by IIFL Fintech Fund, which first invested in Leegality in 2022.
“IIFL Fintech Fund has reinforced its conviction in Leegality by doubling down on its investment through its Series II fund, acquiring an additional stake via a secondary transaction,” a spokesperson for the fund said.
Founded in 2016 by Prakhar Agrawal, Sapan Parekh and Shivam Singla, Leegality focuses on digitising paper-heavy enterprise workflows. The startup provides end-to-end digital document logistics and offers application programming interfaces that support e-signatures across multiple technology stacks, including BharatSign, National E-Governance Services Limited and BharatStamp.
Its platform also includes signer verification, automated verification workflows, document tracking and security features, alongside client-specific pricing models. Leegality’s offerings are structured across four plans designed for individuals, businesses and enterprises.
Following the rollout of the Digital Personal Data Protection (DPDP) Act and its growing acceptance among large organisations, Leegality has positioned itself as an early mover in DPDP adoption. It recently launched Consentin, a product designed to help enterprises manage end-to-end DPDP compliance. Consentin has begun seeing traction, with more than 10 implementations underway across public sector and private banks, non-banking finance companies and manufacturing firms.
In January, IIFL Fintech Fund closed its second fund after raising Rs 200 crore from domestic family offices and high net worth individuals, providing it with fresh capital to back fintech and regulatory infrastructure companies across stages.
