In a rapidly digitizing world, legal tech is automating tedious processes, enabling professionals to focus on high-value tasks. QuickLegal, an AI-driven solution for debt collection and legal workflows, has announced a new fundraising round on SeedBlink, aiming to raise €620,000. The funds will be used to grow its market reach in Romania and scale operations in France.
Supporting, not replacing, legal professionals
QuickLegal solution may be used by anyone, from businesses, legal professionals to debt collection agencies. QuickLegal is not about replacing lawyers or debt collection agencies – it is about efficiency and helping them automate mundane tasks so they can focus on complex legal work. Many aspects of debt collection, such as data extraction from invoices and drafting legal notices, can be automated, freeing up time for professionals to handle strategic cases.
The tech solution can be used by any business processing large volumes of invoices, operating with payment terms, and facing late payments. Industries such as retail, transport, telecommunications, construction, services are key beneficiaries of such automation solutions like the one of QuickLegal.
Revolutionizing debt collection with AI
QuickLegal provides a fully automated debt collection approach, helping businesses recover unpaid invoices faster and at lower costs. Unlike solutions that only send payment reminders, QuickLegal automates the entire collection process, including issuing legal notices or initiating claims in court with the help of specialized lawyers.
By leveraging AI-driven data parsing, QuickLegal extracts unstructured data from invoices, contracts, purchase orders or other types of documents automatically populating legal documents with essential information. This automation reduces manual intervention, cutting costs by 30% and increasing recovery rates by 40%. Additionally, it helps businesses enforce payment terms more effectively, improving cash flow stability.
Addressing a €35 billion market
The global debt collection market was valued at approximately USD 30.2 billion in 2023, while the debt collection software market reached USD 5.34 billion. Together, these form a total addressable market of around EUR 34 billion for QuickLegal. As businesses increasingly seek automation solutions, the demand for AI-driven debt recovery tools continues to grow.
In today’s economic landscape, overdue invoices can threaten financial stability. Traditional, manual methods struggle to keep up with complex legal and financial processes, making automated solutions like QuickLegal essential for modern businesses.
Expansion into France: a leader in AI innovation
After launching operations in Romania, as a beachhead market, QuickLegal is now looking to expand to France, a strategic market for AI-driven legal automation. France has positioned itself as a European leader in AI, attracting key players like OpenAI, which recently opened an office in Paris, and hosting significant industry events such as the AI Action Summit. President Emmanuel Macron has also prioritized AI, announcing major investments in innovation.
Mistral AI, a fast-growing French AI startup, further reinforces the country’s leadership in artificial intelligence. Additionally, France is driving digital transformation in financial and legal processes. The transition from the Public Portal PPF to registered dematerialization platforms (PDPs) for e-invoicing compliance highlights the need for automation, but also a window of opportunity for startups like QuickLegal.
Globally, the fintech sector is expanding rapidly, with a compound annual growth rate of 16.5%, while the legal tech sector is also growing at a CAGR of 9.1%. These trends highlight the increasing demand for AI-powered financial and legal services, making QuickLegal’s expansion particularly relevant.
Strong growth and industry recognition
A client from the transportation industry, facing invoice delays of 3-6 months, managed to recover 80% within two weeks using QuickLegal’s debt collection automation – one example out of many.This showcases how businesses struggling with overdue invoices can leverage AI to improve financial stability.
QuickLegal has demonstrated strong traction in the legal tech space. With 182% year-on-year revenue growth and more than 60 new users joining the platform monthly and new partnerships concluded almost each month, the company is rapidly expanding.
Recognized as „Best Romanian Legal App” at the Romanian Legal Awards 2024, QuickLegal was also one of three startups selected for the prestigious Open Innovation Factory 2024 program. These accolades reflect the company’s commitment to driving innovation in legal automation.
The investment opportunity
QuickLegal’s SeedBlink bridge round is already attracting strong investor interest, with €379,000 of the targeted €620,000 secured in only a couple of weeks. Now any interested angel investors may join the round and be part of QuickLegal’s success story.
By integrating cutting-edge technology into legal workflows, QuickLegal aims to become the go-to solution in Europe for businesses seeking legal automations. The company is actively looking for investors to help shape the future of legal automations. Investors who bring industry insights and strategic guidance can play a key role in QuickLegal’s growth and long-term vision.
Legal tech is on an upward trajectory, with automation becoming a key component of modern business operations. By investing in QuickLegal, stakeholders gain access to a high-growth sector that is transforming how legal and financial services are delivered. With a strong focus on scalability and innovation, QuickLegal aims to redefine and democratize such services in Europe and beyond.
