FinTech news in Draper Associates category

The startup is in talks with a number of new and existing investors including Draper Associates, Coinbase Ventures, Protocol Labs and Naval Ravikant to raise about $60 million in a new financing round, the sources said, requesting anonymity as the deliberations are ongoing and private.

Raad Ahmed and Ashish Walia started the company in 2016 with an initial focus on startups and small businesses, trying to find product-market fit (as one does), but finding that legal usage among companies of that size was often project-based, infrequent and short-term if the company folds. In 2019, the company pivoted to working with mid-market and enterprise-level companies by selling into legal departments, and that when growth took off, Ahmed told journalist. Similar to other industries embracing contract work, Lawtrades is giving legal professionals a way to become independent and run their own virtual law practices. Ahmed plans to use the new funding to rebrand the company, launch an iOS app, expand into other professional categories, like finance and management consulting, and gain an international footprint.