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Nobody gets into running a tech startup to spend time with lawyers… unless they’re launching a legaltech company.

But whatever your market, watertight legals are a necessity.

SuLe wants to help lawyers serve founders more efficiently with a platform that will eventually welcome founders and VCs too.

Find out more about what this London startup is building in today’s edition 👇

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SuLe is like SeedLegals for a startup’s lawyer

Every startup has legal work they need to take care of, whether it’s tax documentation around a fundraise, contracts between co-founders and employees, or many other necessities.

Companies like SeedLegals and Vestd have emerged in recent years to help founders handle their legal headaches. Despite this, early-stage startups often still needed a lawyers.

…But won’t someone think of the lawyers themselves? Where is the tech to make their lives easier when helping founders?

That’s where SuLe wants to come in, helping lawyers with the currently manual process of handling the legal side of a startup’s fundraise.

“We have built a platform that automates the process for law firms. So you could say we’re the SeedLegals for law firms to use themselves,” explains Patricia Wing, co-founder and CEO of SuLe.

“The whole purpose of this is to make fundraising more of a sleek, faster process, but also to standardise the costs a little bit. If you go into a fundraising process, you’ll know what to expect in terms of costs.

“A lot of times, people end up being burnt by law firms, and it takes a huge part of their funding. It’s also really to encourage founders to use law firms, because it's the right thing to do.”

How it works

In its current form, SuLe’s legal platform is designed to digitise lawyers’ existing processes. Wing says it incorporates each firm’s house style and ways of doing things.

Some of the things SuLe can already do include quickly generating a cap table with an option pool, and populating documents with details from an investor’s term sheet.

“That's 160 pages of investment documents that we can do in under two minutes. And we can manage the entire signing process, which is something founders usually have to pay £5,000 pounds for unnecessarily. We do that automatically. One click of a button and it fully populates it for the law firm,” Wing says.

Helping lawyers is just the first step, however. Eventually, the plan is to add founders and VCs to the platform so they can all collaborate in one place.

“If you want to get your grandma using Claude or ChatGPT, you have to give her a laptop first, get her on the internet, get her on the web, and then give her AI. It's the same with law firms, I believe. You want to get the law firms digitising what they're doing, automating their documents, automating their processes, and then you start to introduce the founders and the VCs,” Wing says.

The story so far

Wing has a background as a lawyer working in the VC and M&A world. This led her to spot ways of doing things better for clients.

“I was always so confused at why we were charging thousands of pounds to just draft board minutes. It just felt like such a waste of everyone's time,” she says.

“So now, our plan is to take that away. You should always work with law firms, 100%, but what you should be paying for is the complex, difficult stuff that you can't use technology to do. That has always been what lawyers have been there for.”

Wing co-founded SuLe with Nilsu Derici who also has a legal background and previously built a lifelong learning app startup.

SuLe started out two and a half years ago by building a community of founders, which Wing says now numbers more than 2,000, who can participate in events and webinars.

Building the community was a deliberate first step, she says.

“We recognise that for this to be really successful, you have to have all parties committed and involved. You can't just have one side. Law firms want to get new clients, they want to work with more startups. So we need to have all three parties working together.”

With the platform targeting lawyers now up and running, the SuLe team is executing a strategy of partnering with startup support organisations while selling the platform to law firms.

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