Source: Wamda
Legaltech, an intersection of law and technology, has been transforming the legal industry over the past few years, enabling lawyers to streamline mundane tasks to enhance efficiency and productivity. Globally, the legaltech market is growing rapidly and is projected to reach $69.7 billion by 2032, according to Future Market Insights, presenting a compound annual growth rate of 8.9 per cent year over year. Regionally, the market is much smaller, but there are a handful of startups looking to digitise and disrupt the legal sector.
Since 2021, 10 legaltech startups of which the majority are based in either Egypt or Saudi Arabia, have raised over $2 million. Of these, seven were at the accelerator stage and the remaining were pre-Seed, highlighting the nascent state of the sector. While overall, the trajectory points towards growth in the region, the sector remains “greatly underserved” according to Nissreen Haram, co-founder of Jordan-based Qistas.
Read full article: https://www.wamda.com/2023/07/technology-make-law-accessible
