The legal services market in Sweden is 2.5 times bigger than in Finland, which offers us interesting growth opportunities. The legal systems have lots of commonality, and Fondia’s products and services (e.g. the Legal Department Service where you can purchase in-house type legal service at a fixed monthly fee) are “exportable” more or less as they are. So, building a business in a new country is possible for Fondia without big investments in product development. Fondia’s free legal database, VirtualLawyer , is the only product that will demand quite a lot of localization work before we can launch it in Sweden. The work is progressing well and we hope to launch that later this year also in Sweden.
Fondia’s first year in Sweden has been promising, and our revenue and customer base has grown steadily. Fondia resides in an office hotel and we have a fantastic team of four lawyers and two more are about to be recruited. At the end of this year or in beginning of 2014 we will open Fondia House, our own, bigger office in Stockholm, for which we are looking for suitable premises.
A lot has happened in the Swedish legal services market over the past year. Fondia has got some interesting new competitors, and it feels like Fondia’s example has had an influence on the service offering. We are very happy to see competitors thinking along the same new lines; many things are happening in the legal industry internationally. Fondia is happy to be part of the innovation movement and looks forward to rewriting the legal industry. We are also building our partner network and looking forward to discussing with the other innovators on how we can work together to change this industry and provide seamless legal support in different countries through collaboration.