Litigation finance start-up LegalPay funds Trivone to fight Eros Now

LegalPay, a start-up specialising in third-party litigation funding and interim financing, has provided financial aid to Trivone Content Services that has recently initiated legal proceedings against Eros Now that has defaulted on its contractual payments. 

According to the litigation financing start-up, Eros Now defaulted on payment of multiple invoices to Trivone after entering into an agreement to provide services pertaining to search engine optimisation (SEO) and app store optimisation. 

Eros Now failed to make payment of the unpaid invoices despite receiving several reminders and requests from Trivone, it alleged. 

Trivone is a content marketing agency with experienced B2B content creators and a track record of over two decades of working with some of India’s top technology companies and media publications. Eros Now is one of the leading OTT platforms of the country with a huge catalogue of movies and music in several languages. 

Meanwhile, Trivone has initiated legal actions against Eros Now including its senior management while exploring all possible legal remedies. 

Eros Now did not immediately respond to an email query sent by Business Today. 

LegalPay is India's only third-party litigation and interim finance start-up providing non-recourse funding in commercial legal claims in exchange for a share in the final recovery. Simply put, the litigant has to pay only upon a successful realisation of the claim. 

The New Delhi-based start-up is a VC-backed venture with support from prominent names such as 9Unicorns, LetsVenture, Venture Catalysts and Amity Innovation Incubator. 

The start-up has also emerged as a significant player in providing interim finance to companies that have entered into insolvency under the Insolvency and Bankruptcy Code.