LegalTech startup Yellow has raised an undisclosed amount in a Seed funding round from Gruhas (founded by Abhijeet Pai and Nikhil Kamath).
Founded in September 2021 by Niranjan Vemulkar and Nikhil Varghese, the startup aims to provide a secure and cost-effective digital estate planning solution for all Indians to protect and preserve their legacies & plan for their future.
With a mission to drive the adoption and growth of estate planning solutions in India, Yellow aims to address the burden on the judiciary caused by properties and family disputes, which accounts for 76% of litigation.
According to statistics, in India, nearly 1.5 lakh crores lie in unclaimed accounts due to lack of Wills, incomplete financial planning, and non-updation of nominees. Yellow aims to tackle this issue by providing a groundbreaking digital Will-making solution that is accessible to everyone, not just those with expensive lawyers and wealth management firms.
Niranjan Vemulkar, Co-Founder & CEO of Yellow said, “Protecting and providing for loved ones is a fundamental human instinct, yet many individuals struggle to secure their family’s future due to a lack of knowledge and resources. To address this issue, Yellow has developed a groundbreaking digital Will-making solution that is accessible not just to those with expensive lawyers and wealth management firms, but to everyone. With the vision of making a Will a necessity for every household in India, Yellow is the first Indian-made digital Will-making and Estate planning app that empowers all Indians to plan for their family’s future.”
“A Will is for everyone, not just the wealthy, and estate planning, starting with a Will, is necessary for every Indian, regardless of net worth. By combining technology and legal expertise, we want to provide a simple, secure, and cost-effective solution for all Indians to protect and preserve their legacies,” he added.
Abhijeet Pai from Gruhas said, “Given the lack of awareness of the necessity of Wills and Estate Planning, its perceived complexity, and misunderstanding of the Indian Legal system among Indian masses, Yellow provides a unique digital solution that can disrupt a market that has historically been fragmented and unreachable to the masses. We are delighted to invest in Yellow, and back its exceptional founders Niranjan and Nikhil as they make estate planning services more accessible and affordable,”
The Yellow app aims to help Indians consolidate all their asset information in one place and pass on their wealth to their family members in a smooth and secure manner. With plans costing as low as INR 5 per day, a consumer can create/generate a legally binding will.
Yellow claims that it has legal experts, with 50+ years of combined experience and having protected assets worth INR 42,000 crores for Indian families, have designed a Yellow Will that is recognized by Indian courts once signed. Yellow encourages Indians to have important conversations around estate planning and get vital documents in place while leveraging the convenience of digital solutions without having to pay an hourly rate for a professional.
Back in 2022, the startup raised an undisclosed amount in a pre-seed round from institutional and angel investors, including Aprameya Radhakrishna, Co-Founder of Koo, Mukund Rao, Co-Founder of Muvin, TT Jagannathan, Chairman of TTK Prestige, Pranav Pai, Founding Partner of 3one4 Capital, and IIFL Wealth, among others.