AVELLUM ADVISES ON SALE OF AXDRAFT TO ONIT

AVELLUM acted as the Ukrainian legal counsel to major shareholders of AXDRAFT, a Ukrainian document automation company, on its sale to Onit. We advised on tax and corporate structuring, as well as transactional matters pertaining to major shareholders. 

Yuriy Zaremba, co-founder and CEO of AXDRAFT, commented: “AXDRAFT has become the first Ukrainian legal technology startup to make a successful exit. We are happy that we started our journey with AVELLUM partners as our angel investors and AVELLUM as one of our first clients. The AVELLUM team support was also really valuable in the closing of this transaction.”

“Back in 2017, Glib Bondar and I were the initial “angel” investors in this promising startup,” said Mykola Stetsenko, managing partner of AVELLUM, “AXDRAFT potential was indisputable to us and definitely worth investing. Yuriy Zaremba spotted and addressed the issue lawyers encounter every day. Today, we are excited to see how AXDRAFT skyrocketed, and we are proud that Yuriy started his professional journey at AVELLUM.”

Вased in Kyiv, Ukraine, AXDRAFT was founded in 2017. It helps in-house legal departments of corporations, as well as law firms to draft routine legal documents 70% faster. AVELLUM was the first law firm that implemented this unique document-generating software in Ukraine. In 2018 AXDRAFT got into Y Combinator, the world’s best startup accelerator program, and in 2019 it raised USD1.2 million investments from the Silicon Valley VCs. AXDRAFT is trusted by top corporations and banks including Carlsberg, British American Tobacco, Glovo, and BNP Paribas.

Onit is a leading provider of enterprise workflow automation and AI solutions, which include enterprise legal management, contract lifecycle management, and business process automation.

Partner Vadim Medvedev and senior associate Anton Zaderyholova provided tax structuring advice to AXDRAFT shareholders.

The AVELLUM corporate team was led by partners Mykola Stetsenko and Glib Bondar with active support from associates Marina Buinytska and Andriy Kornuta.