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103%
Raised
£622,980
Investors
47
Target
£600,000
Equity
5.48%
Pre-money valuation
£10,750,000

LawBite is a Lawtech enterprise on a mission to solve a £13bn problem by democratising the delivery of business law. Since launching in 2013, the platform has addressed over 26,000 SME legal enquiries through its regulated law firm (LawBriefs) with 50 lawyers, delivering fast, affordable advice.

  • Value for money: typically half the cost of comparable lawyer services
  • Efficient:currently convert 70% Enquiries to Quote,70% Quotes to Order
  • Potential Reach: 500k+ SMEs via Revolut, Hiscox, Starling and Stripe
  • International: Platform for SME Legal Hub with a major law firm

Idea

LawBite aims to take SMEs from law they know, to the law they need.

5.8 million UK SMEs (99% of private sector companies) lose £13.8bn p/a from failure to take care of their legal needs. Good legal advice can be a catalyst for growth. We believe it should be a basic business right; easy to access, understand and afford.

LawBite's software uses tech and data science to provide fixed price legal advice and improve efficiencies for clients and lawyers. We operate a virtual network of lawyers through our SRA regulated firm each averaging 15yrs' experience, typically costing 50% less than comparable lawyers from conventional law firms.

Since launch in 2013, we've achieved:

- 98% Feefo rating (230+ customer reviews)

- 70% repeat business monthly

- Agreements with Hiscox, Starling, Stripe to integrate LawBit tech & fixed price offering into their customer workflow, signed MOU for UK pilot with Revolut.

We now aim to scale through partnerships to reach large SME audiences, who already spend £9bn/year on legal services. By creating an SME international hub, we will target UK SME's to access legal services needed to grow overseas, in one platform. We have secured a partnership with city law firm Taylor Vinters to onboard lawyers to our platform in up to 70 countries.

Funds will be used to integrate Taylor Vinters, onboard new partnerships, platform development and marketing/sales team growth.

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Risk warning

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LawBite has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.