Fintech LegalPay announced the launch of its interim finance healthcare-focused fund for retail investors. Through fractional ownership, investors can invest starting Rs10,000 per opportunity in asset-backed legal and debt financing asset classes.
LegalPay, an alternative investments platform specialising in legal and debt financing opportunities, has launched a Special Purpose Vehicle (SPV) focused on the healthcare sector for retail investors wishing to invest and provide fractional super-secure financing to companies under insolvency that have substantial assets.
Under this SPV, retail investors can invest for as low as Rs 10,000 and diversify their investment portfolio just like the HNIs do.
Interim Finance under IBC, 2016 is short-term super-secure financing that allows an insolvent company to remain operational while undergoing the Corporate Insolvency Resolution Process (CIRP). LegalPay targets mid-market companies, including MSMEs, undergoinginsolvencies, requiring Rs 10 lakhs - Rs 5 crores, according to a press statement.
“LegalPay democratizes investments through extensive use of technology and data. We want to make the use of alternative investments mainstream for retail Indian investors like the ultra-rich does,” said Kundan Shahi, Founder & CEO of LegalPay.
