Retrievables is a marketplace that connects businesses that are owed money to law firms that focus in collecting money. Retrievables’ mission is to assist companies to prosper while subsequently growing the legal collections industry.
NEW YORK, NY, February 15, 2023 /24-7PressRelease/ — Retrievables, a LegalTech/FinTech marketplace, connects businesses that are owed money to law firms that concentrate their practices in collections. Since entering the market in March, 2022, the company is making a deep impact on small and medium sized businesses of all descriptions nationwide, while growing collections law firms.
Retrievables’ technology provides businesses with the opportunity to easily upload information on their debts, which is shared with the Retrievables’ network of attorneys. Once an attorney decides to take on a claim, they are connected with the business seeking to collect and the two parties may begin working together.
Retrievables also has a demand letter service where an attorney generates letters for its clients.
Retrievables is the only startup company working in the legal collections market, a niche and under-utilized area of law. Collections law firms distinguish themselves by their ability to utilize the tools of the judicial system to collect, in turn, producing higher collections rates at an increased speed.
The company’s client base, network of attorneys and revenue has grown month over month. It employs a team of seven located in The United States, The Philippines and Poland.
Retrievables has raised $1,000,000 to date with Lightbank as its majority investor. Other investors include C2 Ventures, Right Side Capital Management, Capital Innovators and angel investors.
“Small and medium sized businesses struggle to collect on overdue accounts, and they need a solution that empowers them to get paid for the work that they do. Legal collections is one of the most effective ways to collect on past receivables by using the court system but most don’t know that this is an option,” said Eric Ong, Partner at Lightbank VC. “We are proud to invest in Retrievables’ work of providing companies with a better solution for businesses to find the best collections attorney for their overdue receivables.”
The founder of Retrievables, Jeremy Crane says, “It is my capitalistic belief that businesses have an obligation when making a promise to pay for a product or service. It is our mission to facilitate payment of debt while concurrently growing the legal collections industry.
A year ago, Retrievables was just an idea. Now we are running a substantial and expanding business. I attribute our success to the people involved; partners, employees, financial backers and legal network.”
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