Legal Tech Startup LAWIO - Relocation to Saxony-Anhalt
bmp Ventures invests with the IBG funds a seven-digit amount in the Legal Tech Startup LAWIO
bmp Ventures AG ("bmp") invests with IBG Risikokapitalfonds III GmbH & Co. KG ("IBG") in the Legal Tech Startup LAWIO. LAWIO's mission is to combine law and technology. This makes it possible to represent legal claims digitally and thus make them easily and uncomplicatedly accessible to everyone. The company receives 7-digit capital and moves its headquarters from Berlin to Magdeburg.
For one year, the LAWIO team worked on a technical solution that would make it easier than ever before for tenants to report defects in their apartments and enforce rent reductions. Tenants are often confronted with defects in their rented flat: Heating or hot water failure, mould in the apartment or construction site noise. In many cases tenants can request their landlords for damage repair and make under circumstances additionally rent reduction valid - nevertheless the few know that. On the LAWIO platform, claims can be checked and enforcement commissioned. LAWIO uses its technology to communicate with the landlord party. The aim is an appropriate, fair and legally secure rent reduction for the period of lack.
"With bmp Ventures AG, we have an extremely experienced and successful partner at our side in legal tech and look forward to working with them," comments Managing Director Sebastian Blanke. With the support of bmp and IBG, LAWIO's service can now be further expanded and optimised, allowing more and more tenants to benefit from uncomplicated assistance in the event of damage.
The team around the five founders Alessandro Bartsch, Julia Baumbach, Sebastian Blanke, Lea Bötticher and Timo Kühnel is now growing rapidly at the new location in Magdeburg. "The cooperation between developers and lawyers is particularly exciting, a constellation that has not been seen very often so far," says Managing Director Lea Bötticher. Among other things, the business model is based on a machine learning technology that enables legal processes to be represented automatically. Due to the high degree of automation, legal cases can be evaluated within a very short time and tenants receive legally secure help in the non-transparent rental market.
Since the audit is accessible to everyone and free of charge, and LAWIO only receives a commission if the rent reduction is successfully enforced, users have no cost risk with the service. The founding team is confident that it will be able to offer millions of tenants an uncomplicated and fair solution in the future in order to receive appropriate compensation in the event of rental deficiencies.