LegalWiz - Legal, Tax Filling and Accounting Services for Business

Lakshya Singh Lakshya Singh
Jan 13, 2021 10 min read
LegalWiz - Legal, Tax Filling and Accounting Services for Business

LegalWiz provides a simple, affordable and transparent way for online pvt ltd company registration, registration, Accounting & Bookkeeping and others. Also read about the business and revenue model, marketing, hiring strategy, competitors from shrijay sheth.

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

One of the biggest challenges an entrepreneur faces while starting a startup is  the legal aspect. From company registration to trademark and copyright registration, from tax filling to accounting, there is lot to take care of. For a startup its overwhelming to manage all by itself. As such, outsourcing these tasks to a reliable organization is very important.

LegalWiz, a startup based in Ahmedabad is here to manage all the legal and accounting tasks of startups with simplicity and transparency.

Startuptalky interviewed, Co-Founder of LegalWiz, Shrijay Sheth to share his experience, information and learning from LegalWiz.

LegalWiz - Company Highlights

Startup Name LegalWiz
Headquarter Ahmedabad
Founders Shrijay Sheth & Namann Pipara
Sector LegalTech
Founded 2015
Funding Rs 3.8 crore
Revenue $113K as on Dec 31, 2018
Registered Entity Name Private Limited

LegalWiz - About and Services Offered
LegalWiz - Founders and Team
LegalWiz - The Idea and Starting Up
LegalWiz - Name and Logo
LegalWiz - Business Model and Revenue Model
LegalWiz - Funding and Investors
LegalWiz - Growth and Revenue
LegalWiz - Customer Acquisition
LegalWiz - Challenges
LegalWiz - Competitors
LegalWiz - Achievements
LegalWiz - Technology Used
LegalWiz - Hiring Strategy
LegalWiz - Work Culture
LegalWiz - Future Plans
LegalWiz - Founder's Advice

LegalWiz - About and Services Offered

LegalWiz Promo Video

LegalWiz, a startup based in Ahmedabad is here to manage all the legal and accounting tasks of startups with simplicity and transparency.

LegalWiz provides a simple, affordable and transparent way of procuring business professional services. We add value by saving time and resources for entrepreneurs, which they can then use in their core business.

Our services include online pvt ltd company registration and other types of business registration, Intellectual Property Registrations, Government & Tax Registrations and Filings, Accounting & Bookkeeping, Custom Legal Document Drafting and more. We cover many services that are generally offered by a CA, CS, Lawyer or other business professionals in India. In other words, we are a Legal Tech company that helps Startups & SMEs with business professional services, taxation and legal compliance.

LegalWiz doesn’t charge any hidden costs.

  • For a Private Limited Company’s registration, it charges Rs 6,000.
  • It charges an annual compliance fee of Rs 4,599, GST return filing fees of Rs 799 monthly, copyright registration fees of Rs 4,699 etc.,
  • There are various packages.  

LegalWiz - Founders and Team

Shrijay Seth and Namann Pipara are the founders of LegalWiz.

Shrijay Sheth, Founder Legalwiz

I (Shrijay Seth) am an eCommerce industry veteran and an entrepreneur with 10+ years of experience in working with businesses across the globe, mostly technology driven. My educational background is in commerce and business. I completed my Bachelors in Commerce and PGD in Financial Analysis from Gujarat University. Later did my MBA in Corporate Finance from San Diego State University, California. I founded LegalWiz with Namann Pipara in 2015.

Prior to that, I have been a consultant to some of the highly disruptive eCommerce ventures like Qualcomm, Bouqs (a SharkTank featured company) and LegalZoom (a world leader in Legal eCommerce). I am a true believer of people first philosophy and largely credit my development to  the travel opportunities I got, both in a professional and personal capacity. I love to travel - major attractions being meeting new people and experiencing a variety of food. Moreover, I love to eat and cook also! Being brought up in a joint family, values of sharing and caring are important to me. In spare time, I love to watch TV with family and my spare time alone is mostly spent watching videos (productive or random) on YouTube. I am a big fan of the Wikipedia model and believe in perfection through iteration.

I met Namann at a business professional networking event. He (and his family) represented a scaled up conventional CA firm. He is a chartered accountant and expert at company laws, income tax, and other relevant subject matters. With my background in Legal eCommerce and his knowledge base, we knew that we had found a good duo for creating a comprehensive solution.

LegalWiz Team

Currently, LegalWiz has 30+employees, including in-house professionals such as CAs, company secretaries, lawyers, web developers, and designers. It also has 50-plus affiliates.

LegalWiz - Idea and Starting Up

I worked with a similar business model (LegalZoom) in the US that was highly scaled and profitable. I knew India also needed something similar, but for different reasons. We thought transparency, accountability and simplicity were three major improvements that we could offer to the status quo of business professional services industry in India. As we scale to be a one-stop solution for multiple services, we know that cost efficiencies are surely coming as a by-product and can be directly passed on to the customers. My co-founder, Namann Pipara, is a partner at a conventional CA firm. When we met, we knew that together we could create a disruptive value proposition.

The "Legal" in our name signifies business professional services and the "Wiz" denotes our excellence at what we do while also reinforcing the online medium that we leverage.

LegalWiz Logo

The logo is abstract - designed by Kathan Kothari, a famous NID designer with many accolades to his credit. In keeping with our credo of "Simple", it shows a filing system - a conventional way of representing the business (Filings) while it also is a Bar graph, denoting growth.

LegalWiz - Business Model and Revenue Model

Our business credo is "Simple-Affordable-Transparent" and we focus on delivering best-in-class services to our clients. Hence a huge chunk of our business is from repeat customers. We resolve customer requirements, keeping them at the center of our operations. That has helped us win accolades and growth at a sizzling pace.

Our revenue model is simple, we charge for the services we provide. Also, I would add that it is very transparent. What you see on the site is what you pay and get. There are no surprises and all our services are backed by 100% satisfaction or money back guarantee.

We have an opportunity to interact with startups at a very early stage, as early as when they think of starting a business. We aim to grow with a larger vision, where we can provide various self-fulfilled and closely curated affiliate service to be their growth partner in future.

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LegalWiz - Growth and Revenue

  • LegalWiz has over 5,000 paying clients and over 30,000 MSME registrations.
  • Its clients includes startups like eChai and CricHeros. It’s larger clients include Flipkart, Bank of Baroda, Instamojo etc.,
  • LegalWiz's revenue stood at $113K as on Dec 31, 2018

LegalWiz - Funding and Investors

On January 5th, 2021,  raised funding worth Rs 3.8 crore from ContCentric IT Services Private Limited. ContCentric, an Ahmedabad-based enterprise content management company. is leveraging portal and ECM solutions for addressing the needs of clients globally.

This investment will help LegalWiz to optimise its performance and create new avenues for delivering greater value.

ContCentric will be the investor and technical development partner in this relationship. Our proven expertise in automating business operations will help boost efficiencies, improve customer onboarding, and the customer experience for ContCentric aims to increase our offerings and include financial investment and mentoring, homegrown product, and technical partnership along with our current ECM and portal development services. The resulting synergies will help us demonstrate our capabilities and also further build our reputation as an investor." Says, Gaurav Barot (CEO, ContCentric)

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LegalWiz - Customer Acquisition

Though we have a great quality of service, communicating the value to the audience is important. We function as a true eCommerce company in that sense and leverage multiple channels of marketing since day one. Our initial set of customers came in with some paid marketing and PR, along with great support from friends and family. Later, referral and repeat buyers became a significant chunk of whom we serve on an ongoing basis.

LegalWiz - Challenges

There were several challenges, some we nailed and some we took as learning for next time. A major challenge in the early days was to create a culture within the company that is accepted both by business professionals (CA/CS/Lawyers) and tech people. They practically come in with a very different work life expectations and needs to be catered differently as well - while making sure it all rhymes well to achieve a common vision. It required a good amount of mentor-ship from the management and a great deal of understanding from all employees to get us where we are today, proudly so!

LegalWiz - Competitors

There are many service providers like us in the market, mostly started in last one year. However, the market for business professional services in India is huge, multi-billion dollar and annually growing. We see VakilSearch, LegalRaasta, MyOnlineCA, as fellow service providers - and feel positive to see their growth stories. We see them more like a market validation and contributors to growing this online industry than just a competition. None-the-less, we thrive to become a leader here, and with a major focus on our service quality.

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LegalWiz - Achievements

  • 650 paying customers within the first 9 months of operation
  • 60% growth in customer retention in 2018.
  • 20% consistent growth every quarter in 2018.
  • A referral score of 9.6/10
  • It is offering services to more than 4000 startups and small businesses.

LegalWiz - Technology Used

Some of the technologies we leverage are LifeRay, PowerBI, MySQL, Google Analytics, Angular, SnowFlake, Python, R etc. Besides these, we are highly active across social media and in the Startup ecosystem. Our blogs are highly informative and a credible source of information to customers & non-customers alike. We leverage organic PR & Communications as well. In-house training to upgrade our responses to customers is a vital component in our arsenal. Our "Stand-Up" meetings are a daily feature, so everyone involved gets a birds-eye view of the ongoing activities.

LegalWiz - Hiring Strategy

It really depends on the role we are hiring for. Some need the candidate to hit the grounds running and we really look for background and expertise. However, many positions that we now build are more to create a team that is worthy of this ride and specific seats can be picked later. We know that we are going to grow as fast as the slowest person in the team, so we really need people to join with high growth expectations and who are willing to set higher standards for the existing team. Integrity, willingness to learn and grow and being super fun is important.

LegalWiz - Work Culture

I was once told by someone (that I consider to be a great leader and inspirational personality) that talent needs a transition. Either it transitions up or transitions out. I promise myself every day that when I enter the office daily, I come not as a boss but as someone who will eventually be accountable for the growth of everyone's career who are associated with LegalWiz. The culture here is to learn, deliver, and grow. We are ok making mistakes as long as we have the willingness to correct them. Empowerment and accountability are two things you can expect at the least being part of LegalWiz team.

Currently LegalWiz has a team of 25+ professionals including chartered accountants, company secretaries, lawyers, as well as software & digital experts.

In 2019, the company's main focus is on training and development.We are aggressively focusing on training and development to achieve our growth target of 30% in the 1st quarter of 2019.

LegalWiz - Future Plans

We want to be the most customer-centric business professional services company in India. Apart from that, there are plans to get in SaaS related to our industry as well as being a legit source of information and education center for professionals. We strive to make every business follow the law and simplify their legal journey.

In the first quarter of 20019, Legalwiz aims to grow 30%. To achieve this growth, the company is working on providing smoother customer experience.

LegalWiz - Founder's Advice

Don't be judgmental. People are never wrong, they are mostly different.

Work incredibly hard and stay true to your dreams. It may be very difficult, but you will find people who can help - thus, networking & tapping the ecosystem is vital.

Website - LegalWiz
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