Baltic Technology Ventures AS (BTV) has concluded an Investment/Consulting and Business Development Agreement with LEGID LawTech OÜ (LegID). In addition to a minority equity stake, BTV will acquire the option to increase its equity over time.
LegID app is a SaaS-enabled marketplace that makes finding the right lawyer simple, quick, and affordable. It empowers legal professionals with tools for greater efficiency and flexibility, improving their work-life balance, as well as allows clients to consult with experts across several countries without the hassle of looking for one themselves.
“80% of people across the world have no access to justice and even those who do, don’t know enough about which everyday problems can have legal remedies. There is great demand for legal services that is out of reach for the legal industry, due to an average person's fear of high costs associated with lawyers. As a lawyer that has been in the industry for over 12 years, leading and working on many successful projects, I came to the realisation that the current model in the legal industry is way too bureaucratic, and causes great frustration for those seeking legal help and for lawyers themselves. Bureaucracy doesn’t help anyone – it hinders the development of the legal industry, and practice of law, and it doesn’t protect clients or give them any extra value, yet it ends up wasting lawyers’ time and costing clients an unnecessarily large amount of money in legal services. We are changing this - helping both lawyers and clients. We are delighted BTV will join us on our mission to make legal help available for everyone,” said Valentin Feklistov, LegID’s CEO.
BTV will aim to support the growth of LegID with key introductions to investors, field experts and industry professionals as well as to help develop and scale LegID products in the Baltic region and later on, in the rest of the EU.
BTV is the only publicly listed venture capital/business development firm focusing on the Baltic market, aiming to connect local innovation with deep experience and access to funding.
Member of the Management Board G.Zolotarev
Contacts: Address: 1-5 Rupniecibas Street, Riga, LV-1010 Phone: +371 67783611 Contact person: Gene Zolotarev Member of the Management Board Phone: +371 67783601 e-mail: gene@baltictechventures.com Certified consultant: Svetlana Hramčenko "Law Office Spridzans" Ltd. Phone: +371 26712718 e-mail: svetlana.hramcenko@spridzans.lv