Kundan Shahi | Advok8 | Start Up Story | The IndianPreneur
Name:Kundan Shahi
Designation:Co-Founder and CEO
Company:advok8.in
Links:
Portal: https://www.advok8.in/
Facebook: https://www.facebook.com/advok8
Twitter: https://twitter.com/advok8_
Instagram: https://www.instagram.com/advok8.in/
LinkedIn: https://www.linkedin.com/company/advok8.in/
1. What gets you out of bed in the morning?
Simple, catching up on what I am passionate about, our startup advok8.in. Being able to progress in my goals, even if it is the smallest thing.
2. Why should people choose your product/service?
Our products provide you with a lot more freedom as compared to the traditional approach. Let’s understand, our case tracking gives you freedom from manual tracking of case status, running after lawyers/law clerks. Our Litigation funding product helps you to transfer your risk and freedom from financial liabilities.
3. What inspired you to start Advok8 company?
I wanted to start a company from the very beginning. Yes, we chose a sector for which we had a vision/passion. We want to simplify the process of access to justice. In the last 3 years of our journey, we have learnt a lot and did several course corrections.
4. How much capital do you have and when do we expect cash flow break even?
We have enough cash to function further and we are in discussion of raising additional rounds. Honestly, our business model requires some time to become a cash flow break even. Our investors understand the business model and are in synch with the founding team. It might take a few years to reach that level.
5. Who are the biggest competitors and how are they doing? If there are no competitors, why?
Our competitors are in the US and UK, and they are doing excellent in this sector. They have given access to a different asset class and this asset class is very much democratize. Third party funding has helped companies to transfer their risk and transform their cost centre to revenue centre. Over 40 % SME of USA, use third-party funding for litigation.
6. What comes first for your money or emotions?
Value! For us, if we are delivering that value to our customers for which our customers/investors have shown trust, we are doing our job very well. So primarily, we are focussed on solving problems for which we have started advok8.in.
7. Where do you see yourself in 5 years?
We have our plans, and we have categorized them in phases like Case Tracking, it is a short-term plan to help litigants and lawyers to have the access of their case details hassle free and timely. The medium-term plan, in the next five to 10 years, is to make advok8 a company which actually becomes a synonym of simplified experience of litigation journey. They are planning to start legal insurance in India. A long-term plan, in next 10 to 20 years is that they want to develop a mechanism which will detect and prevent litigation in India. They believe that advok8’s products will add value to a much wider audience
8. If you had the opportunity to start this business again what would you do differently?
I would have started it a few years earlier. I would not have got into many things at the same time. I would have spent more time in chasing customer rather than investors.
9. If you sold your company today, what would be the tone of the conversation? What would you want to gain? What would you want to avoid losing?
We don’t think on that line. We are not here for a sprint, we are here for a marathon. A slow but steady approach.
10. What advice would you give to someone starting out?
Persistence is the key, believe in yourself. Starting up is really challenging, so please don’t get into the trap of the much-hyped startup status culture. Don’t fall in love with the idea, rather think about solving the problem.
