A legal/fintech platform, RuleZero has raised Rs 10 crore in seed funding. The funding round was headed by Zerodha-backed fund and incubator Rainmatter Capital, and Kris Gopalakrishnan, IndusLaw, and Reddy Futures also showed participation.
The startup RuleZero said it will utilize the funds to enhance its technology and increase consumer deployments.
“RuleZero is solving the problem by building a smart and intelligent platform that will help stakeholder participation and capital flow in a transparent, efficient, and compliant manner. The earlier problem was manual processes, limited number of skilled professionals, and the absence of a single source of truth, have resulted in private companies suffering from compliance issues, limited liquidity, high financing costs, and delays which we are trying to resolve with existence of RuleZero” said Founder of RuleZero, Srinivas Katta.
RuleZero was founded by Satish Mugulavalli and Srinivas Katta in 2019, the startup is incubated at IndusLaw which has developed the platform called “hissa”. It is also a marketplace connecting to other legal/fintech products and service providers
According to a statement, RuleZero focuses on managing ownership data of the company, automating share issuance processes and ESOP creation and management, and providing mechanisms to track and certify cap tables and manage transactions.
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.”
The statement added RuleZero will also venture into enabling and providing liquidity and enabling secondary transactions of unlisted securities in a compliant manner.
Kris Gopalakrishnan, Founder, Infosys, said:
“We are excited to back RuleZero as they are disrupting the manual processes in transactions. By automating and standardizing 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.”