The Legaltech startup Qanlex closed a $3M seed round led by Carao Ventures, The LegalTech fund, Preface Ventures, FJ Labs and J Ventures.
The Argentina-based Qanlex offers litigation financing and focuses on continental law countries. The startup stands at the intersection of the legal, financial, and technological worlds. The company developed Case Miner, a sourcing algorithm that allows them to invest in meritorious litigations:
“Our vision is that technology is our main ally in decision making. We created Case Miner, a specialized software that reviews all active lawsuits, parameterizes them, and, using machine learning models, classifies them to find those that are most likely to have a favorable ruling. Our technological development is what makes it possible to make the model scalable and reach new regions. We have analyzed more than 9 million lawsuits,” explains Yago Zavalía Gahan, Founder & Managing Partner of Qanlex.
The startup’s mission is to level the playing field so that financing is no longer an impediment to access to justice:
“Our mission is to prevent a meritorious claim from failing to access Justice due to lack of access to capital. We have already invested in more than 40 litigations and, so far, we have not lost a single case, and the cases that have had a verdict were 100 percent favorable. We have achieved this, in part, thanks to technology,” explains Fernando Folgueiro, Founder & Managing Partner of Qanlex.
Read more on La República.