Lex Consult

Lex Consult is a law firm based in India, with a well-regarded fintech and financial services practice. Years of experience in the financial services sector, coupled with an inclination and ability to absorb the provision of financial services through a digital medium has earned Lex Consult a reputation for delivering cutting-edge legal counsel to a diverse array of fintech clients.

Recognising the transformative impact of fintech on the financial services landscape, Lex Consult has over the years, developed a strong reputation in the fintech sector, advising startups, established businesses, and investors in developing legally compliant, market-leading products and services, closing investment rounds and significant acquisitions.

With 2 (two) partners and a skilled team of 8 (eight) associates in this practice area, Lex Consult operates as an extension of its clients’ teams. The Firm’s collaborative approach ensures that all legal considerations are factored into the development of products from their earliest stages, enabling clients to launch innovative solutions with confidence, making Lex Consult a trusted partner.

Lex Consult’s mission is to provide the highest level of legal counsel to clients operating in the fintech sector, supporting their businesses in developing groundbreaking products while ensuring compliance with India’s dynamic legal framework. The Firm is committed to staying ahead of industry trends, offering not just legal counsel, but strategic advice that helps clients navigate challenges and seize opportunities in the rapidly evolving financial technology landscape. The Firm sees itself as a partner, supporter and stakeholder in the fintech ecosystem in India, and has sought to highlight the issues faced by the fintech sector through its advocacy assignments at fora such as the Department for Promotion of Industry and Internal Trade.

At the heart of Lex Consult’s approach is a strong commitment to client-centricity. The Firm prioritises understanding each client’s unique challenges, goals, and business model, which enables them to deliver better. Lex Consult aims to be a dynamic, dependable and responsive legal partner in a fintech’s journey.

Lex Consult offers a comprehensive suite of legal services tailored specifically for the fintech industry. These services include:

• Regulatory Compliance: Guiding clients through the regulatory environment that governs India’s fintech landscape, including compliance with regulations from the Reserve Bank of India (RBI) and the Ministry of Finance, with a clear focus on issues, positions, projections, facts and data.
• Product Development and Structuring: Advising on the legal aspects of product development, including payment systems, transaction flows, and compliance with applicable laws. The Firm has expertise in peer-to-peer lending, Buy Now Pay Later (BNPL) models, and the structuring of products around Prepaid Instrument (PPI) card systems.
• Payment Systems: Providing guidance on payment facilitation agreements, including agreements with major players like networks and payment gateways. The Firm has also worked on structuring sub-merchant agreements and net-banking arrangements for various fintech entities.

Lex Consult has had the privilege of advising several leading fintech companies on a wide range of impactful projects. Some of the Firm’s recent and key engagements include:

• CRED, on (i) the acquisition of CreditVidya, a service platform offering services for the entire life cycle of loans from origination to underwriting to collection of repayments; (ii) acquisition of Kuvera, an online wealth management platform; and (iii) its investment in NBFC P2P Liquiloans, among other transactions.
• Snapmint, on its $18 Million Fundraise via Debt and Equity to Expand Its No-Cost EMI Platform.
• MoneyClub, a company engaged in the business of developing and operating B2C and B2B2C technology products using the mechanics of rotating savings and credit association, in connection with its Series A fundraise.

Lex Consult’s unique positioning within the market, working with both emerging fintech startups and well-established players, has led to a rapidly expanding client base. The Firm’s advisory services have contributed to the successful launch of numerous fintech products, while also providing critical counsel on fundraising, acquisitions, and commercial contracts.

Lex Consult regularly publishes the Fintech Flyer, a newsletter that provides timely updates on regulatory changes and their impact on the sector. This publication has become an invaluable resource for clients, offering insights into the latest trends and offering practical advice for navigating the evolving regulatory environment.

The Firm’s excellence in the fintech space has been recognised by Chambers and Partners, where Lex Consult was named the Leading Firm – FinTech Legal for 2024 and 2025. Founding partners, Majid Afsar Siddiqi and Naresh Pareek have been recognized as Notable Practitioners.