LegalPlace, a French all-in-one legal management solution for small and medium-sized enterprises (SMEs) has raised €20 million in a funding round led by Xange and Eurazeo, with participation from existing investors such as Profounders, MH Innov, and La Poste Ventures. The round was completed with due diligence financial services provided by 2CFinance.
Founded in 2017 by Racem Flazi, Moncef Hammou, Mehdi Ouchallal, and Samuel Goldstein, LegalPlace offers a technological solution that aims to simplify legal, administrative, and accounting tasks for entrepreneurs. The platform uses AI to understand the context and existing contracts, extracting essential information to generate documents that comply with applicable laws and regulations, as well as the business's specific needs.
The funding will enable LegalPlace to expand its team and launch complementary financial and insurance services. The company has already achieved significant success in its mission to support entrepreneurs in France and beyond, with over 70,000 businesses already using the platform.
Xange is a French venture capital firm that focuses on early-stage investments in innovative companies. Eurazeo is a leading global investment group, with a portfolio of over €25 billion of assets under management across various industries. Profounders is a London-based venture capital firm that invests in early-stage tech startups, while MH Innov is the innovation arm of Malakoff Humanis, a major French insurance company. La Poste Ventures is the venture capital arm of La Poste, the French postal service.
The funding round represents a significant milestone for LegalPlace and its vision to simplify legal and administrative tasks for entrepreneurs, as well as the investors that have recognized its potential. The company's continued growth and expansion into complementary services will likely be watched closely in the coming months and years.