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LegalPay Awarded the Best LegalTech Startup of the Year by Entrepreneur India at Tech and Innovation Summit 2024

LegalPay, India’s leading litigation finance company, has been named the BEST LEGALTECH STARTUP OF THE YEAR by Entrepreneur India at the prestigious Tech and Innovation Summit 2024. This recognition underscores LegalPay’s unwavering commitment to revolutionizing the legal finance landscape and empowering businesses with innovative solutions.

LegalPay tackles the chronic issue of delayed payments faced by businesses. Their groundbreaking financing solution, QuickSettle, offers a lifeline to thousands of businesses struggling with cash flow. QuickSettle provides immediate funding to creditors, allowing them to receive their dues upfront. Simultaneously, debtors benefit from flexible repayment plans, easing financial strain and facilitating a win-win outcome for all parties involved.

“In today’s dynamic economic climate, access to flexible financing solutions is vital for businesses to thrive,” says Mr. Kundan Shahi, Founder & CEO of LegalPay. “We are incredibly honored to be recognized by Entrepreneur India. This award is a testament to our steadfast dedication to pushing the boundaries of innovation in the legal finance industry. We remain committed to empowering businesses and fostering a culture of faster dispute resolution in India.”

LegalPay’s innovation transcends traditional boundaries. By bridging the gap between creditors and debtors, QuickSettle fosters collaboration and trust, reducing the need for costly litigation. In today’s dynamic business landscape, access to working capital is paramount. QuickSettle liberates working capital, allowing businesses to focus on growth and expansion.

The recognition from Entrepreneur India serves as a testament to LegalPay’s dedication to pushing the boundaries of innovation in the legal and financial technology sector. As businesses continue to seek efficient and sustainable solutions to recover their dues, LegalPay remains steadfast in its mission to empower businesses and drive positive change in the industry.

About LegalPay:

Founded in 2019 by Kundan Shahi, LegalPay has emerged as India’s largest litigation funding company, currently managing over USD 400 Million worth of claims. Through innovative solutions like QuickSettle, LegalPay empowers businesses to navigate financial hurdles seamlessly and unlock their true potential.

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Announcements Consumer

Golden Pear Upsizes Corporate Note to $78.7M Amid Growth Plans

By John Freund |

Golden Pear Funding has extended and upsized its investment-grade corporate note to $78.7 million, further bolstering the firm's capacity to serve the expanding litigation finance sector. The New York-based funder, a national leader in both pre-settlement and medical receivables financing, said the proceeds will support working capital and fuel strategic growth initiatives.

A press release from Golden Pear outlines how the capital raise reflects continued investor confidence in the firm’s business model. CEO Gary Amos noted that the infusion is critical as Golden Pear seeks to scale alongside the “rapidly expanding litigation finance market.” CFO Daniel Amsellem added that the new funding aligns with the company’s capital allocation strategy, aimed at optimizing operational efficiency and executing strategic projects.

Brean Capital, LLC acted as the exclusive financial advisor and sole placement agent on the transaction.

Founded in 2008, Golden Pear has funded more than $1.1 billion to over 87,000 clients and remains one of the largest specialty finance companies in the U.S. Its business model spans legal case funding and medical receivables purchasing, with backing from a network of private equity partners that provide institutional support for continued expansion.

Announcements Regulatory Issues

LionFish Updates Model Documents in Response to CJC Report

By John Freund |

LionFish Litigation Finance Ltd has released a new suite of model litigation funding documents, updating its original set from February 2021. The revision comes on the heels of the Civil Justice Council's (CJC) Final Report on Litigation Funding, issued on 2 June 2025, which calls for a regulatory structure informed by best practices, including key principles published by the European Law Institute (ELI) in October 2024.

A LionFish press release details that the updated suite incorporates several of the ELI Principles (notably 4-12) and broader CJC recommendations, except where doing so would require legislative or procedural reform. LionFish's goal, according to Managing Director Tets Ishikawa, is not to dictate market norms but to foster industry-wide standardisation and efficiency. This proactive move is also intended to spark further collaboration between funders, insurers, and legal practitioners to develop trade practices akin to those in mature financial markets, such as those promoted by the Loan Market Association and the International Swaps and Derivatives Association.

The new suite includes three core documents: a litigation funding agreement, a priorities deed to define proceeds distribution, and an assignment deed for insurance benefits. Notably, LionFish has also added documentation for co-investment arrangements, reflecting a growing trend in syndicated funding deals. The funder has already closed seven such transactions.

Managing Director Tanya Lansky emphasised that while litigation funding remains complex, making documentation public enhances transparency and facilitates quicker deal closings—an essential factor for sustaining market growth.

As litigation finance continues to mature, this move by LionFish highlights a shift toward professionalisation and standardisation. With regulators increasingly focused on transparency and fairness, such initiatives may set a de facto benchmark for others in the industry. The question remains: will other funders follow suit, or will regulatory mandates be needed to compel alignment?

Announcements Commercial Legal Innovation

Backlit Capital Solutions Launches Legal Finance Consultancy

By John Freund |

Backlit Capital Solutions has announced the launch of its full-service legal finance consultancy. The firm aims to provide comprehensive funding solutions for legal claims, offering services that include litigation finance, arbitration funding, and judgment enforcement strategies.

An article in PR Newswire states that Backlit Capital Solutions is positioning itself as a comprehensive provider in the legal finance sector, aiming to serve a diverse clientele that includes claimants, law firms, lenders, and investors. The firm's service offerings encompass litigation finance, arbitration funding, and judgment enforcement strategies, indicating a broad approach to legal funding solutions.

The launch of Backlit Capital Solutions reflects a growing trend in the legal finance industry, where firms are expanding their services to address the multifaceted needs of legal claimants and their representatives. By offering a suite of services under one roof, Backlit Capital Solutions aims to streamline the funding process and provide tailored solutions to its clients.

As the legal finance landscape continues to evolve, the entry of firms like Backlit Capital Solutions underscores the increasing demand for specialized financial services in the legal sector. Their comprehensive approach may set a new standard for how legal finance consultancies operate, potentially influencing the strategies of existing and emerging players in the market.