Frankfurt-based legal tech start-up Lintum successfully closed its second financing round with BMH Beteiligungs-Managementgesellschaft Hessen mbH and leading figures from the German legal market in May 2021. The total volume of the financing round was €800,000, of which €400,000 came from BMH via the Participation Fund Hessen Kapital III (EFRE) GmbH, which it manages. With its disruptive idea, Lintum aims to optimize companies’ existing procurement processes in the legal market.
The changing legal market
Today, purchasing an external legal service for a company is often uneconomical and associated with very high costs. Lintum makes this process simpler, more transparent and, above all, less expensive.
Lintum offers a cloud-based software solution, made in Germany, with which companies mandate their external law firms in an intuitive workflow. The solution is ready to use and allows mandates of any size, in Germany and worldwide. As a result, purchasing processes become more efficient and the quality of the purchased services increases. The price also decreases due to the competitive nature of the tendering process. The complete documentation guarantees the fulfilment of modern compliance requirements. Customers also choose Lintum because it improves their controlling and enables cross-company benchmarking.
Participating law firms benefit from an automated, focused and unbureaucratic mandating process.
Lintum GmbH is a legal tech start-up founded in 2018 and based in Frankfurt-on-Main. Managing directors and partners of Lintum are Christian W. Jakob, also managing partner at ten., the leading German venture builder for legal tech, and Jens Kellerhoff. The core team also includes co-founder Stephan Gittermann, Chairman of Lintum’s Advisory Board and also Location Head at a leading commercial law firm in Frankfurt-on-Main. The company offers a cloud-based software solution that enables companies to competitively tender for legal services.
BMH is responsible for the public investment business in Hessen and manages various investment funds with a current invested capital of around € 120 million. With its investments, BMH supports medium-sized companies and start-ups in all business phases, e.g. in the implementation of innovation and growth projects, in the regulation of company succession and in the optimization of the capital structure.
For more information, visit www.bmh-hessen.de.
Dr. Jens Kellerhoff
Chief Legal & Strategy Officer, Lintum GmbH
Phone +49 69 247 558 120