Legaltech startup Clara receives investment from Dubai’s DIFC FinTech Fund

UK-based legaltech start-up, Clara, has established an office in Dubai International Financial Centre (DIFC) following an investment by the DIFC FinTech Fund.

Under Clara’s new license, it will now be able to provide its corporate services platform to DIFC companies.

DIFC is the third jurisdiction to licence Clara to setup companies.

Clara is led by a team of lawyers and technology specialists. The company’s platform automates many of the tasks currently performed by lawyers for startups including forming companies, drafting agreements, building cap tables, structuring data rooms and predictively educating founders on legal concepts.

Clara has raised a total of $3.5m in seed financing from institutional investors, including 500 Startups and Techstars.

The DIFC FinTech Fund, which has also now invested in Clara, is a $100m fund that was first announced in 2017 to help establish, grow and scale startup and growth stage companies seeking access to MEASA markets.

“We are delighted to announce investment from DIFC’s FinTech Fund in Clara, a rapidly growing legaltech startup that will make doing business easier for early stage companies and other businesses that form part of the region’s largest financial services ecosystem,” said Arif Amiri, CEO of DIFC Authority.

Patrick Rogers, CEO and co-founder of Clara, added, “Startups are looking for a new approach to help them overcome the pain and complexity of dealing with legal matters. We are thrilled to be setting up in DIFC which will allow us to completely streamline the customer experience of incorporating DIFC entities – adding further value to the Clara platform, which digitises and automates startup legals.”