Monday 20 September 2021
UK-based legaltech startup Clara has opened an office in Dubai after raising investment from the DIFC Fintech Fund operated by the Dubai International Financial Center (DIFC).
Founded in 2018, Clara digitalizes and automates legal tasks for entrepreneurs, including setting up companies in different countries.
The DIFC has also granted Clara the license to provide its corporate services platform to DIFC companies.
Since its founding, Clara has raised USD 3.5 million from institutional investors including 500 Startups, Techstars, and Wamda.
The investment by DIFC reflects its commitment to driving the automation and digitization of legal services. The DIFC Fintech Fund is a USD 100 million fund announced in 2017 to help establish, grow, and scale startup and growth-stage companies seeking access to the markets of the Middle East, Africa, and South Asia (MEASA) region.
DIFC is home to the largest and most comprehensive fintech and innovation ecosystem in the region.
This is the third jurisdiction to grant Clara a license to set up companies.