With an investment from the Dubai International Financial Technology Fund.
Clara, an emerging legal technology company, launches operations in Dubai
Clara provides a simplified corporate services platform for DIFC companies.
From the source
Aref Amiri: “We continue to stimulate the pace of innovation by investing in companies capable of making a qualitative leap in the financial sector.”
The Dubai International Financial Center announced its investment in the UK-based legal technology startup Clara.
A statement issued yesterday stated that the innovative digital platform "Clara" is digitizing and automating many of the tasks and legal procedures that company founders need to complete, including the establishment of companies within various jurisdictions.
According to the statement, this investment reflects the depth of the DIFC's commitment to advancing the automation and digitization of legal services, pointing out that this investment was made by the Financial Technology Fund of the financial center, a $100 million fund launched in 2017 with the aim of helping To establish and support the growth and expansion of emerging financial technology companies in their early stages of growth, and are looking to reach the markets of the Middle East, Africa and South Asia.
Recognizing the abundance of growth opportunities associated with doing business in the Dubai International Financial Center, as the home of the largest and most comprehensive FinTech and innovation ecosystem in the region, Clara will now be able to provide a simplified enterprise services platform to DIFC companies, under the new license granted to the company.
Arif Amiri, CEO of the Dubai International Financial Center Authority, said that the center continues to play a key role in stimulating the pace of innovation in the region, by injecting investments in companies capable of making a qualitative leap in the financial sector.
He added: “We are pleased to announce the investment of the Financial Center’s FinTech Fund in Clara, a fast-growing legal technology startup that will enhance the ease of doing business for early-stage companies, as well as other companies that are important components within the larger ecosystem of services. finance in the region.
In turn, the co-founder and CEO of startup Clara, Patrick Rogers, said that startups are looking for a new approach that helps them overcome the obstacles and complexities of dealing with legal issues, and therefore, we are very pleased to start doing our business in the DIFC, which It will enable us to simplify all aspects of the customer experience in integrating companies into the financial center system, adding more value to the Clara platform that digitizes and automates the legal affairs of start-ups.
Leading Clara is a team of expert lawyers and technology professionals who have worked for some of the best firms in their sectors.
The company's platform automates many of the tasks and procedures that lawyers currently perform for startups, including setting up companies and drafting agreements, creating capitalization schedules, structuring data rooms, and educating founders in legal concepts.
The company has succeeded in raising $3.5 million for the initial funding phase from a number of investment institutions.
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