Rulezero, a legal/fintech platform has raised Rs. 10 cr in seed funding to enhance its technology development and increase customer deployments. The round was led by Rainmatter Capital, the Zerodha backed start-up incubator and fund with participation by Mr. Kris Gopalakrishnan, IndusLaw and Reddy Futures LLP amongst others.
Rulezero is incubated at IndusLaw, one of India’s most successful new age law firms with substantial experience in VC, PE, M&A, tech advisory and capital markets. Founded in 2019 by Satish Mugulavalli and Srinivas Katta, Rulezero has developed the “hissa” platform. The platform manages ownership data of the company, automates share issuance processes and ESOP creation and management and provides mechanisms to track and certify cap tables and manage transactions. Ownership data includes security instruments such as equity and equity linked securities and debentures. The platform is also a marketplace connecting to other legal / fintech product and service providers.
The platform will make it extremely easy for the private invested companies and the investors / investment bankers / lawyers / companies secretaries and chartered accountants to understand and smoothly carry out all share ownership procedures in a single platform and complete the financing transactions end to end.
The founders have been part of the India & Silicon Valley startup industry for over 20 years in multiple roles. Satish Mugulavalli is a technology entrepreneur with multiple startups in Silicon Valley and India and was most recently a partner at YourNest Venture Capital, a deep tech investment firm. Srinivas Katta is one of the founding partner’s of IndusLaw and a widely recognized corporate lawyer.
Srinivas Katta, one of the Founders of RuleZero said, “Manual processes, limited number of skilled professionals and the absence of a single source of truth has resulted in private companies suffering from compliance issues, limited liquidity, high financing costs and delays. RuleZero is solving this problem by building an intelligent platform that enables stakeholder participation and capital flow in a transparent, efficient and compliant manner.”
Nithin Kamath, Founder and CEO at Zerodha, said, “At Rainmatter, we are constantly looking out for innovative tech companies that are working on enabling and encouraging financial transactions. Rulezero is a platform that automates various manual tasks and paperwork involved in private investments and facilitates such transactions.”
Kris Gopalakrishnan, Founder Infosys said: “We are excited to back RuleZero as they are disrupting the manual processes in transactions. By automating and standardising compliance, data flows and contracts between founders, investors and other parties, they will speed up the innovation cycle; freeing up the founding team’s time from administration, data checks and negotiation to run their business.”
RuleZero will also venture into enabling and providing liquidity and enabling secondary transactions of unlisted securities in a compliant manner.
Source: Business World
