LegalPay funds world’s first logistic company making hybrid fulfilment possible – The Pidge to pursue its lawsuit against Meatigo

LegalPay, India’s first and only third-party Litigation funderand Interim financier has announced that it has financially helped Pidge to recover outstanding dues of an undisclosed amount against Meat and Spice Private Limited (popularly known as ‘Meatigo’), an online retails store delivering meat and other non-vegetarian products.

Pidge deals in the business of providing individual and bulk courier, delivery and logistic services and it is also world’s first logistics company making hybrid fulfilment possible.Pidge initiated proceedings against Meatigo in lieu of disputes arising out of unpaid invoices. Meatigo has defaulted invoices duly raised by Pidge.

In the year 2020, Meatigo engaged Pidge to provide logistic services across Delhi-NCR region, upon monthly payments. Despite the delay and default in payment of unpaid invoices, Pidge continued to diligently provide its services to defaulterconsidering the general sense of business relation both the parties shared.

“Nevertheless, despite Pidge’s several polite reminders and requests, Meatigo failed to fulfil its obligations and clear the unpaid invoices. Pidge as a final resort reached out to LegalPay to help them finance the legal actions against Meatigo,” said Kundan Shahi, Founder of LegalPay. Adding that invoice payments defaults are at an all-time high, and LegalPay is prepared to support businesses in defending against such claims.

LegalPay provides non-recourse funding in commercial legal claims in exchange of a share in the final recovery, implying that the litigant has to pay only upon a successful realization of the claim amount. LegalPay is a VC-backed fin-tech start-up with support from prominent names such as 9Unicorns, LetsVenture, VentureCatalysts and Amity Innovation Incubator.

LegalPay has also emerged as a significant player in providing interim finance to companies that are undergoinginsolvency. Furthermore, Interim Finance is provided atmarket competitive interest rates with structures suiting the requirements of the resolution professionals.