This funding round has closed
Legal marketplace - connecting businesses with lawyers
Minimum Target £ 850,000 |
Minimum investment amount £ 500 |
Maximum Target £ 850,000 |
Maximum investment amount £ 0 |
Lexoo is a UK online marketplace that connects business clients with prescreened lawyers. Lexoo has been growing over 30% month on month since launch in July. Businesses receive up to 4 quotes within 24 hours (usually fixed). Lexoo is currently on a £1M gross annualised run rate. Lawyers pay us 10% commission over any work they do for introduced clients over an 18 month period (i.e. not just on the first job).
Customers can submit an 'enquiry' through our website. Within 24 hours they'll receive multiple tailored quotes (often fixed quotes) from prescreened and specialised lawyers.
Customers can then compare the lawyer's experience, reviews and price before deciding whether to be introduced to any of the lawyers. This prevents customers from overpaying on legal work and gives them insight upfront.
The service is free for customers. The lawyers pay us 10% commission over an 18 month period, but we are moving to a 'lifetime' commission model (all lawyers we have on-boarded since 2 months ago are on the lifetime model now),
Businesses face 3 problems when hiring a lawyer:
1. No price transparency
Lawyers get away with being vague on pricing - they are usually not in competition
2. Hard to judge quality and experience
recommendations from contacts are flawed - they'll only have experienced a handful of lawyers themselves in a limited number of circumstances
3. Extremely time consuming to find & vet multiple lawyers and get their quotes
After introducing a client to a lawyer, Lexoo receives 10% commission over any legal work that lawyer completes for a client over an 18 month period. We therefore also get paid for subsequent work, not just the first job.
However, we've recently moved to a 'lifetime commission model'. The last 30 lawyers we've signed up have all agreed to that.
Customers can submit an 'enquiry' through our website. Within 24 hours they'll receive multiple tailored quotes (often fixed quotes) from prescreened and specialised lawyers.
Customers can then compare the lawyer's experience, reviews and price before deciding whether to be introduced to any of the lawyers. This prevents customers from overpaying on legal work and gives them insight upfront.
The service is free for customers. The lawyers pay us 10% commission over an 18 month period, but we are moving to a 'lifetime' commission model (all lawyers we have on-boarded since 2 months ago are on the lifetime model now),
Businesses face 3 problems when hiring a lawyer:
1. No price transparency
Lawyers get away with being vague on pricing - they are usually not in competition
2. Hard to judge quality and experience
recommendations from contacts are flawed - they'll only have experienced a handful of lawyers themselves in a limited number of circumstances
3. Extremely time consuming to find & vet multiple lawyers and get their quotes
After introducing a client to a lawyer, Lexoo receives 10% commission over any legal work that lawyer completes for a client over an 18 month period. We therefore also get paid for subsequent work, not just the first job.
However, we've recently moved to a 'lifetime commission model'. The last 30 lawyers we've signed up have all agreed to that.