Impulse VC was the lead investor of the seed round, which also attracted investments from Igor Ryabenkiy’s AltaIR Capital and members of the AltaClub venture capital community, as well as Australian supermodel and philanthropist Jessica Kahawaty. The funds will be used for app development, PR, and marketing in the US. The terms of investment and company valuation have not been disclosed.
e-gree was founded in 2020 by entrepreneurs Ilia Flaks (Fibrum, Immo Games) and Araz Mamet (VR Box), as well as American lawyer Keith Fraser. The project previously received investments from supermodel, philanthropist and venture capitalist, Natalia Vodianova, and Matthew Freud, co-owner of Freud Communications, one of the largest PR agencies in the world.
e-gree co-founder Keith Fraser: “We have great confidence in the social value of our project, which allows people to protect their private interests against the age of global informatization. Thousands of users are already securing their agreements on the e-gree app, thereby protecting important aspects of their business and personal lives. We are constantly developing new contracts for modern-day issues. Our goal is to cover all spheres of life and make signing contracts easier and firmer than a handshake.”
The app can be used to record the terms of a bet, transfer legally-protected sensitive documents and files, and ensure confidentiality in meetings and correspondences, as well as secure informal loans, sign prenuptial agreements, or even create a Last Will and Testament.
To use the app, the user can simply select a contract from more than twenty pre-made templates, enter their information, and share it with another party for signature. All the other party needs to do is download the app and accept the terms of the agreement. e-gree makes the process of creating and signing a contract as simple and intuitive as possible — everything can be done in under two minutes.
According to co-founder Araz Mamet, the e-gree app is focused on C2C, an underserved segment of the LegalTech market that has immense potential for growth (LegalTech for individuals).
e-gree is available internationally on the App Store and Google Play, and has already attracted more than 10 thousand users. In addition to the English version, the app was released in Russian in April 2021 and will soon be available in 7 other languages, including Spanish, French, and Italian.
Investment capital firm Impulse VC, the lead investor of the round, was convinced to invest because of the idea behind e-gree, which is to change the paradigm of personal relationships in areas of business and social life. According to a representative of the firm, simplifying communication and removing the barriers of distrust between individuals are essential to the advancement of business and society as a whole. With its simplicity and accessibility, e-gree takes this to a whole new level.
Igor Ryabenkiy, Altair Capital: “I was attracted by the team’s enthusiasm and the relevance of the topic. Literally recording significant agreements on the fly can help create new opportunities and protect against excesses and illegal actions. I believe that the project has a great future!”
Director Timur Bekmambetov: “I regularly share ideas for new projects with others, but before e-gree, my confidentiality agreements had always been based on good faith alone. e-gree allows me to legally secure verbal agreements, so I don’t have to worry about my ideas or negotiations being leaked to the world. I have no doubt this project will have global success. The simplicity and convenience of the app, as well as a wide variety of different contract templates, makes e-gree indispensable for a number of real-life situations!”
Jessica Kahawaty, model, philanthropist and e-gree angel investor: “e-gree democratizes the way people sign contracts. It’s normally an expensive and intimidating process and many people end up losing their rights because they didn’t go through traditional legal channels. Technology had to change that and, most importantly, simplify it. We finally have a tool that is accessible — the price of a cup of coffee — and effective, which protects you in the eyes of the law.”
About the founders
Ilia Flaks — IT entrepreneur, founder and former CEO of IMMO Games, one of the largest game developers for VKontakte (with more than 65 million users), and founder of FIBRUM, a producer of world-class AR/VR content. FIBRUM VR apps and games have been downloaded more than 25 million times. Ilia is the vice president of LANIT Integration, as well as the co-founder and product director of e-gree.
Araz Mamet — entrepreneur and graduate of The Los Angeles Film School. Creator of the popular VR helmet, VR Box.
Keith Fraser — lawyer with over twenty years of experience in practising US law.
Contact: Keith Fraser, +1 (213) 864-1395, firstname.lastname@example.org