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After being invested by the DIFC Fintech Fund, LegalTech startup “Clara” opened in Dubai – Dubai Blog

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The Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa and South Asia (MEASA) region, announced that it has invested in the British legal technology startup Clara.

Clara’s innovation platform digitizes and automates many legal tasks that founders need to perform, including setting up companies in different jurisdictions.

This investment reflects DIFC’s commitment to promoting the automation and digitization of legal services. The investment is provided by the DIFC Fintech Fund, which was announced in 2017 and has a scale of US$100 million to help start-up companies and growth-stage companies seeking to enter the MEASA market to establish, develop and upgrade.

In addition, recognizing the growth opportunities associated with operating in DIFC, given that the center has the largest and most comprehensive fintech and innovation ecosystem in the region, under Clara’s new license, it will now be able to provide its simplified corporate services to DIFC Platform company. This is the third jurisdiction where Clara is permitted to establish a company.

When commenting on the announcement,Arif Amiri, Chief Executive Officer of the DIFC Authority, Said: “DIFC continues to be a catalyst for innovation in the region through investments in companies that help change the financial industry. Therefore, we are pleased to announce DIFC’s FinTech Fund’s investment in Clara, a fast-growing LegalTech start-up company. It will make it easier for early-stage companies and other companies that form part of the largest financial services ecosystem in the region to conduct business.”

“Start-ups are looking for a new way to help them overcome the pain and complexity of dealing with legal affairs,” said Patrick Rogers, CEO and co-founder of Clara“We are very pleased to be established at DIFC, which will allow us to completely simplify the customer experience of merging DIFC entities-adding more value to the Clara platform, which will initiate legal digitization and automation.”

Clara is led by a team of experienced lawyers and technical experts who have worked for some of the top companies in their industry. The company’s platform automates many tasks that lawyers currently perform for start-ups, including forming a company, drafting agreements, establishing cap tables, building data rooms, and educating founders on legal concepts. The company has raised $3.5 million in seed funding from institutional investors including 500 Startups and Techstars.

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