Dispute Resolution
For business and individuals
Season 3 Episode 37
| Brand | Sama |
| Company Name | ODRWAYS SOLUTIONS PRIVATE LIMITED |
| Founders | Pranjhal Sinha, Akshetha Maithri Ashok, Vikram Kumar |
| Original Ask | 1 crore for 1% equity at the valuation of Rs. 100 crores |
| Deal | 1 crore for 1.5% equity at the valuation of Rs. 66.67 crores |
About the Product
Sama for Individuals: Individuals can now access a 60-minute consultation on Sama provided by highly qualified subject matter experts. This service offers a valuable opportunity for individuals to receive expert guidance on their legal matters. If the subject matter qualifies for Online Dispute Resolution (ODR) standards, it will be seamlessly processed on Sama for Online Mediation. This streamlined approach ensures that individuals have access to efficient and effective dispute resolution services without the need for extensive legal proceedings.
Sama for Lawyers & Law Students: Opportunities to shape the future of Dispute Resolution in India await! Lawyers and law students passionate about driving change in India’s justice system through Online Dispute Resolution are sought after by Sama. This presents an exciting chance for legal professionals and aspiring lawyers to be at the forefront of innovation in the field of dispute resolution. By joining Sama, they can contribute their expertise and insights to the development and advancement of ODR practices in India, paving the way for more accessible and efficient justice systems.
Sama for Businesses: Businesses leveraging Sama experience significant savings in time per case, reduced legal expenses, and can steer clear of adversarial processes detrimental to customer relationships. Sama’s ODR platform offers businesses a practical and cost-effective alternative to traditional dispute resolution methods. By utilizing Sama, businesses can resolve disputes swiftly and amicably, preserving valuable time and resources. Additionally, by avoiding prolonged legal battles, businesses can maintain positive relationships with their customers and stakeholders, fostering trust and loyalty within their communities.
Founders & their story
- Pranjhal Sinha
- Akshetha Maithri Ashok
- Vikram Kumar
Introducing Sama, the ODR platform at the forefront of facilitating online resolution for legal disputes since its establishment in 2015. Specializing in online mediation and arbitration, they have built a robust legal community comprising over 3000 arbitrators and mediators. With an impressive track record of resolving 35 lakhs cases online, Sama stands as a beacon of efficiency in an often-cumbersome legal landscape, boasting an average resolution time per case of just 3 months, a stark contrast to the 36 months typically required for court judgments.
Sama’s accolades include winning the E ADR challenge organized by ICICI Bank and Agami in 2019, a feat that led to them securing a contract from ICICI Bank to serve as their ODR Partner. The pathway to becoming a mediator at Sama involves undergoing rigorous ODR training, followed by an interview with a psychologist, and finally, a 3-month coaching program. The platform’s primary use cases span across loan disputes, insurance disputes, and e-commerce disputes, offering a cost-effective alternative to traditional legal channels. With Sama, individuals can expect to pay a mere 1% of the claim amount for legal costs, in stark contrast to the hefty 31% charged by the courts.
Their unique selling proposition lies in their ability to offer ODR with a human touch, catering to the needs of both parties involved in the dispute resolution process. Sama has captured an impressive 40% share of the Indian ODR market, with their top 3 enterprise clients contributing to a significant 60% of their sales. Operating on a fee structure based on claim amount slabs, Sama ensures affordability for all, with fees ranging from up to 4000 for claim amounts up to 20 lakhs, with an average fee per case standing at 1700. Additionally, they offer a variable fee model consisting of a 1000 filing fee plus 1% of the settlement amount, further enhancing accessibility to their services.
About the company
Sama is revolutionizing the landscape of dispute resolution, offering a collaborative and accessible online platform for everyone. They facilitate various dispute resolution services such as Online Mediation, Online Arbitration, and Online Lok Adalat, providing a seamless experience for resolving conflicts. With over 2 crore disputes filed on Sama, they have successfully resolved over 34 lakh disputes. Their track record speaks volumes, boasting an average resolution time of just 45 days. This swift resolution not only saves time but also reduces the financial burden on individuals and organizations involved.
Their impact extends beyond efficiency to cost-effectiveness. For instance, a leading private sector bank experienced a remarkable 90% reduction in legal costs by incorporating the Sama Med-Arb Clause. This translates to significant savings, demonstrating the tangible benefits of embracing online dispute resolution. Furthermore, Sama’s efficiency is underscored by their ability to deliver results swiftly. The average time for resolution stands at a commendable 32 days, ensuring timely closure of disputes. With awards passed amounting to ₹79.56 crore, their impartial adjudication ensures fair outcomes for all parties involved.
Moreover, Sama’s commitment to expedited resolution is evident in their partnership with Snapdeal, where over 50% of cases were resolved within 30 days through Online Conciliation. This underscores their dedication to resolving disputes efficiently, sparing parties from prolonged legal battles. In essence, Sama offers a transformative approach to dispute resolution, emphasizing collaboration, accessibility, and efficiency. Through their innovative platform, they empower individuals and organizations to resolve conflicts swiftly and cost-effectively, ushering in a new era of accessible justice.
Revenue
In the fiscal year 2023-2024, up until November, they achieved sales totaling Rs 6.4 crores. Their projected sales for the entirety of the fiscal year are anticipated to reach Rs 12 crores. Projections indicate a profit margin of 20-25% for the same period.
Founders’ Ask
1 crore for 1% equity at the valuation of Rs. 100 crores.
Offers
Aman and Namita’s offer: 50 lakhs for 1% equity at the valuation of Rs. 50 croresand 50 lakhs debt at 10% interest for 3 years.
Ritesh, Aman and Namita’s offer: 50 lakhs for 1% equity at the valuation of Rs. 50 croresand 50 lakhs debt at 10% interest for 3 years.
Amit’s offer: 1 crore for 2% equity at the valuation of Rs. 50 crores.
Anupam and Amit’s offer: 1 crore for 2% equity at the valuation of Rs. 50 crores.
Ritesh, Aman and Namita’s revised offer: 1 crore for 2% equity at the valuation of Rs. 50 crores.
Founders’ Counteroffer
Offer 1: 1 crore for 1.5% equity at the valuation of Rs. 66.67 crores.
Offer 2: 1.5 crores for 1.5% equity at the valuation of Rs. 100 crores.
Final Deal
Ritesh, Aman and Namita: 1 crore for 1.5% equity at the valuation of Rs. 66.67 crores.