Openlaw raises 3.3 million US dollars

The Munich-based LegalTech startup Openlaw has completed seed financing in the amount of 3.3 million US dollars. Investors include YouTube co-founder Jawed Karim (via Y Ventures), Moonfire Ventures and other international VCs and angel investors from the Y-Combinator environment. With its platform, the company is building a digital infrastructure for business start-ups and notarial processes in Europe.

Digitalization of incorporation and notary services

With its beglaubigt.de brand, Openlaw offers a platform that digitally maps the entire incorporation process, from the preparation of documents to the notary appointment and entry in the commercial register. The aim is to simplify and significantly speed up bureaucratic processes.

While it often takes six to eight weeks to set up a GmbH in Germany, Openlaw aims to reduce this process to just a few days. The platform takes on administrative tasks and integrates existing players such as notary's offices without replacing them.

Answer to Europe's bureaucracy problem

In international comparison, Europe is considered a complex location for start-ups: different legal systems, numerous company forms and complex procedures slow down many start-ups. Openlaw is positioning itself as a digital infrastructure that accompanies founders through all relevant processes, from founding to ongoing administration.

First partnerships andgrowth

Less than a year after the product launch, beglaubigt.de is already working with over 25,000 customers and cooperating with platforms such as Qonto, Holvi and Sevdesk. The incorporation process can be integrated directly into other applications via an API, for example when opening an account.

Openlaw plans to use the fresh capital to further expand its product and integrate additional processes such as register applications and accounting. The company plans to expand into other European markets in the future.