SA Legal-tech Startup Legal Lens & BriefCo Secures Funding from Imvelo
Summary
Legal Lens and BriefCo, both based in South Africa, have received funding from local venture capital company Imvelo Ventures in a cash-for-future-equity deal to help them grow. Legal Lens and BriefCo were initially two independent startups founded and owned by Catherine Paulse, Yusha Davidson, and two silent co-founders, but have now been merged as part of Cycad Group, a new company in which Imvelo Ventures has invested. As part of Cycad Group, and with the undisclosed amount of funding from Imvelo, a VC firm founded by Capitec Bank and Empowerment Capital Investment Partners, the two platforms now plan to scale operations. With a combination of long-term patient growth capital, mentorship and access to market, we aim to assist their growth locally with our corporate partners and later beyond Africa, internationally. A combination of commercial potential and social impact is a critical element we look for,” said Anton Baumann, executive director at Empowerment Capital and Imvelo Ventures.