Lexly to raise $21 million in a round led by Industrifonden.

Lexly, a Stockholm, Sweden-based provider of a SAAS for legal services, announced the completion of a SEK 175M ($20.8M) in external capital raise.

The money was raised from investors led by existing shareholders from Industrifonden, joined by the local businessman Håkan Roos.

Lexly, formerly known as avtal24, was founded in 2004, is led by CEO Magnus Stein and developed a software tool with aim to digitalize legal services to both private consumers and SMEs, with most of its customers coming from the local Swedish banks.

Lexly previously raised $5 million back in 2020, out of a total of almost $10M.