This week we feature the interesting Startup from Mexico TRATO.
TRATO – A web based Contract management solution from Mexico
TRATO is a software as a service (SaaS) with web and mobile application, that allows small and medium size companies to create contracts in an easy and intuitive way.The SaaS platform offers a complete solution for small companies to organise their legal agenda by enabling an app to guide them through all the process.
The application allows for intuitive user login and ensbles them to create contracts using suggestions of the most common clauses used in all kinds of legal documents.The platform allows management of electronic contract and eSignatures and audit trail to validate contract execution. The solution from TRATO enables use of Big Data information from Mexican courts compliant with Federal Laws as well as the Supreme Court. Use of Blockchain Technology enables the contract to be time-stamped. The platform continues to evolve to be compliant with emerging legal requirements.
TRATO is creating a unique technology that will allow users to have many of their legal services automatized. Based in Mexico City, Mexico, TRATO won the 3rd place in the 16th Founder Showcase (link) in 2015 at Microsoft Auditorium, Silicon Valley, California, USA. The Founder Showcase is Silicon Valley’s leading seed-stage startup event, and throughout our history contestants have gone on to raise over $355 million in funding – including companies like Udemy, Relay Rides, Thumbtack, Realty Mogul, Kaggle, and many more.
TRATO Contracts with Technology (Blockchain, Big Data, Artificial Intelligence)
Q&A: Interview with Ignacio Bermeo
How did you get started with the idea?
Ignacio: I have been a corporate lawyer for nearly 15 years, and I noticed that most small companies or
entrepreneurs, avoid legal prevention since it is costly and seems unimportant. I also happen to be an entrepreneur and programmer, so I focused on finding an easier, cheaper and beautiful way to create contracts and organize their legal agenda. I started with two different versions of TRATO but finally found the version that clients found useful and worth paying for.
The idea sounds unique. Who are your main competitors?
Ignacio: Besides lawyers, obviously, now, there are each day new legal tech startups that are taking
advantage of this market. However, most of them, focus only in part of the problem and the others, offer a complicated and boring service. Among them, Docracy, Shake Law, Legal Zoom, Rocket Lawyer, to name a few.
Who are the main customers of TRATO? (Please describe the customer demographics and cities covered by TRATO)
Ignacio: Small and medium size companies as well as startups & entrepreneurs in the country of Mexico.
However, this year we are planning to expand our tech to other countries consider that we only
need to translate and make minor changes to TRATO.
How do you plan to address practical challenges. For example, marketing and outreach is a
challenge most startups face?
Ignacio: Contracts are naturally viral since it is requiered the signature of minimum two people, our client
and another potential client. Furthermore, instead of offering a solution without lawyers, we
work very close with them by helping them intervene on the use of new technology with their
own clients and reach out to other clients that never knew them before. With this, they have been
an excelent distribution channel.
What are your plans to go global?
Ignacio: This year we are translating our app to other languages as well as contacting lawyers from other
countries to use and promote our app. We have also made important international alliances with
other SAAS services that require legal help on their own ventures.
Tell us about your business model. Where do you see yourselves in a year?
Ignacio: We have a freemium and subscription based business model. With the freemium model, users
may use TRATO to upload PDFs and sign them for free. The subscription model allows them to easily create contracts with the help of a lawyer and use greater security to protect their negotiations and deals.
Last week we featured Nurturinno consulting.