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Document infrastructure platform Leegality has introduced a new feature to enable the process of electronic signatures in the country to address the challenges of manual, time-consuming paperwork processes.
Called WhatsApp Signing Pings, the feature aims to enable Indian businesses get documents signed by customers, business partners, and other key stakeholders directly through WhatsApp. The feature is available to all Indian businesses that use the platform for getting paperwork signed.
Shivam Singla, co founder and CEO, Leegality, highlighted the substantial opportunity presented by WhatsApp’, which has a user base of 400 million in the country and is projected to grow to 800 million by 2025.
The platform currently replaces 30 million physical signatures per month and is in use by more than 2,000 Indian businesses such as Federal Bank, ICICI Bank, HDFC, SBI Cards, Razorpay and Asian Paints.
The startup claims to have seen 60x growth in its business since its inception in 2019. “We are close to clocking an annual recurring revenue (ARR) of ₹100 crore by the end of this financial year,” said Singla.
Positive cash flow
The startup has achieved positive cash flow and has not needed to utilise the funds it raised, totalling ₹51 crore across three funding rounds.
He also underlined the significance of making document signing as convenient as other business activities conducted on WhatsApp, such as banking and grocery shopping. “So many key business relationships are moving to WhatsApp — banking, ticket booking, ordering groceries from your local kirana. Everyone hates signing documents with their bank physically; why shouldn’t they also be able to do this on WhatsApp?”
The feature is expected to reduce drop-offs in document signing with customers and vendors by offering the flexibility for essential documents to be signed from anywhere, at any time, within minutes.
The startup said it is on a mission to make all paperwork processes in India digital by 2030, and currently, offers e signs-in 10 local languages.
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