NOAH London is just around the corner, so we sat down with Europe’s most promising startups to learn more about why their products and services can revolutionize the digital ecosystem.
Can you tell us more about RightNow Group?
RightNow revolutionises peoples’ access to justice. We buy consumers’ legal claims and pay within 24 hours, thus providing them “justice-as-a-service”.
When and why did you launch the business?
We launched the business in 2016 because we saw that there were no efficient ways to receive reimbursements for micro claims such as unused plane tickets, train delays, etc.
What are your biggest milestones to date?
We grew the business to over 100k claims p.a., raised a +25M factoring fund and built a team of great investors and advisors, including – amongst others – Carsten Maschmeyer, Andreas Thümmler, and the founders of Trivago.
What is your target market and how big is it?
On a macro level, the global legal services market is worth $850 billion. About 50% is B2C but it remains largely fragmented.
On a micro level, we are able to quickly launch new factoring products in different areas of a consumers’ lives. For instance, the addressable market for unused plane tickets alone is around $18 billion in Europe.
What makes your company “the next big thing”?
We manage to analyse, acquire, and process micro claims at scale, providing consumers with a large part of their reimbursement within 24 hours – without any future risk.
As you continue to grow, what challenges are you expecting?
Internationalising the business and making RightNow a household brand across different verticals.
What do you hope to gain out of NOAH London?
We would like to get in touch with growth investors interested in European LegalTech ventures.
Are you planning to raise funds over the coming months? If so, what types of investors are you looking for?
We are planning to close our Series A round until the end of Q1 2020. Investors should have vast experiences in scaling consumer brands internationally. The ideal investor has already made several investments in the field of factoring or LegalTech/FinTech.
Why should potential corporate clients meet you at NOAH?
Corporate clients should meet us because we can help them realise their legal claims at scale. Above that, we can help corporates such as booking vendors, insurances, etc. in providing additional value to their customers by offering white label solutions that allow them to provide instant reimbursement to their customers.