Stripe Acquires Clerky to Offer Legal Infrastructure for Startups
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Payment infrastructure fintech Stripe is getting into a new infrastructure layer this week. The California-based company has acquired Clerky , a company that offers legal infrastructure that startups need during and after formation. Terms of the deal were not disclosed. Clerky was founded in 2011 to help startups with legal paperwork surrounding incorporation and post-incorporation documentation, board actions, SAFEs and convertible notes, hiring documentation, stock and option issuances, and ongoing corporate maintenance. It also offers startup attorneys a private workspace that makes it easy to work with a startup's clients and colleagues. "As startup attorneys in Silicon Valley, we saw how our clients would try to get paperwork done faster and cheaper, but ended up paying us more in the end to fix everything," Clerky said in its blog post. "We started Clerky to provide the experience our clients were looking for, but with our legal expertise built into the products." Acquiring Clerky will help Stripe bring startups into its ecosystem even earlier. Instead of waiting until a business needs payments, Stripe will use Clerky to help establish the relationship during incorporation, fundraising, and hiring. Ideally, Stripe will retain that company as it scales. Additionally, Clerky will help Stripe expand Atlas from formation into startup operations. Atlas, which Stripe...
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