Right Now announces new financing round

Legaltech Right Now apparently wants to raise over eight million euros in a new financing round. The start-up buys consumers' compensation claims.

According to WirtschaftsWoche , the start-up Right Now is announcing a new financing round of 8.5 million euros today. Investors include venture capitalist VR Ventures and the asset management company Schwarzwälder Boten.

Right Now buys consumers' claims against hotels, airlines or companies and then represents the case. The start-up then promises to pay out the refund to the consumer within just a few hours. It then takes action against the debtors at its own risk.r. This means that claims can be bundled and consumers are often spared lengthy disputes with the companies. According to its own information, Right Now takes more than half of the claims to court.

In addition to air travel, the start-up also specializes in tenancy law and data protection law and sees this as a key focus in the future. The processes are to be increasingly automated. Right Now is said to have represented 350,000 customers in the last three and a half years.

Right Now was founded in 2017 by Torben Antretter, Phillip Eischet and Benedikt Quarch and had raised more than 25 million euros by 2019. The Trivago founders and Carsten Maschmayer's VC Seed & Speed are also involved. The company now employs 40 people and was also able to make a profit this year through claims for canceled trips due to the coronavirus pandemic, which they bought from consumers.