How DOQFY is making contract management smarter for businesses in India
Founded in 2019, Bengaluru-based DOQFY serves more than 1,000 businesses, including DFC Bank, Bajaj Finserv, Swiggy, Meesho, Unacademy, Xiaomi, and Axis Bank.
Contracts are a fundamental aspect of operations for various industries. Even so, contract management remains outdated, relying on manual paperwork, scattered approvals, and email-based negotiations, which can lead to delays, compliance risks, and financial penalties.
While large corporations can afford Contract Lifecycle Management (CLM) solutions, mid-sized businesses struggle with high costs, legal complexities, and India’s varying stamp duty regulations. The need for a cost-effective, automated, and compliant contract execution platform is more pressing than ever.
Recognising these inefficiencies, Aditya Pandranki, Manjula Rao, and Vilaas BV founded DOQFY in 2019 to digitise contract management, enabling businesses to create, execute, and track contracts seamlessly while ensuring legal compliance.
With backgrounds in banking and IT project management at companies like GE Countrywide Finance and Standard Chartered, the trio saw firsthand the challenges of traditional contract handling.
The idea stemmed from frustration due to personal experience with outdated contract management systems. Despite his own banking experience, Pandranki struggled when his father needed a loan contract.
"Even professionals in banking struggled with documentation and bureaucracy. That’s when it became clear—there was an urgent need for a digital solution. Beyond personal experiences, we witnessed companies incurring heavy penalties due to expired agreements and untracked contracts. Determined to solve these inefficiencies, we built DOQFY,” Aditya Pandranki, founder and CEO, tells YourStory.
Bootstrapped with an initial investment of approximately Rs 25 lakh from family and friends, DOQFY now operates with a team of 33 professionals.
Building a holistic management platform
Bengaluru-based DOQFY is a B2B SaaS platform that streamlines contract creation, execution, and compliance. Designed to reduce manual inefficiencies, the platform automates key aspects of contract management, including e-stamping, digital signing, and compliance tracking.
“Users simply upload a PDF contract, and the system automatically determines the applicable stamp duty for any Indian state, processes it digitally, and sends it for e-signature—eliminating the need for physical documentation,” says Pandranki.
DOQFY integrates Aadhaar-based e-signatures, Digital Signature Certificates (DSC), and electronic signatures, ensuring legally compliant execution. The platform also features automated alerts for contract renewals and compliance deadlines, reducing legal risks.
While enterprise-grade Contract Lifecycle Management (CLM) solutions exist, their high costs make them inaccessible for mid-sized businesses. “Most CLM platforms cater to large enterprises, but mid-sized businesses need these solutions too. Our focus is to provide a cost-effective alternative without compromising on features,” Pandranki explains.
DOQFY’s subscription plans start at Rs 1,500 per use, with monthly and annual options.
The platform adheres to ISO 27001, GDPR compliance, and SOC 2 certification and employs Role-Based Access Control (RBAC) to regulate access. “Security is a major concern for businesses handling sensitive contracts. Our system ensures that access is restricted based on organisational hierarchy,” he emphasises.
It also integrates e-stamping and franking services to comply with the Indian Stamp Act and state-specific regulations, automating compliance tasks with timely alerts.
AI-driven contract automation
DOQFY leverages Natural Language Processing (NLP) and AI to simplify legal language and automate data extraction, contract validation, and risk assessment.
“Legal teams often manually edit Word-based contracts, which leads to errors like missing updates to client details or outdated clauses. Our AI-driven automation eliminates these inefficiencies by ensuring accurate document generation, tracking, and compliance checks,” says Pandranki.
DOQFY operates as both a standalone web application and an API-based solution, allowing seamless integration with core banking systems, vendor onboarding portals, and enterprise management solutions.
“Our API integrations allow businesses to embed contract execution into their workflows, reducing operational friction,” he asserts.
While the core technology remains consistent, DOQFY customises its platform for different industries:
- Banking & Finance – Automates loan documentation and lending agreements.
- EdTech – Simplifies student onboarding and contractual documentation.
- Logistics – Streamlines vendor onboarding and contract execution.
“The framework is dynamic—while the system remains the same, contract templates, workflows, and compliance checks are tailored to each industry,” Pandranki explains.
The business
DOQFY serves more than 1,000 businesses, including DFC Bank, Bajaj Finserv, Swiggy, Meesho, Unacademy, Xiaomi, and Axis Bank.
“We saw slow adoption before COVID-19, as businesses were reluctant to move away from physical documentation. But the pandemic accelerated digital adoption, and companies started approaching us,” he recalls.
The startup generated $1.3 million last year and is targeting $2 million this year, growing at 110% YoY.
DOQFY estimates that its automation reduces nearly 60% of repetitive legal and financial tasks, such as contract drafting, formatting, compliance tracking, and renewal alerts.
“Instead of spending hours manually managing contracts, businesses can focus on strategic decision-making while our platform handles execution and compliance,” Pandranki adds.
The startup competes with players such as DocuSign, Ironclad, Icertis, SirionLabs, and SpotDraft.
Market trends and future
The Indian contract lifecycle management market was valued at $298.88 million in 2024 and is projected to hit $1,011.78 million by 2033, growing at a CAGR of 14.51% during the forecast period (2025-2033), according to Astute Analytica.
In 2020, DOQFY raised Rs 2.1 crore in a seed round led by Turbostart and angel investor Sandhya D. In 2023, it secured Rs 7.5 crore in a pre-Series A round led by Turbostart and Pentathlon VC, with participation from Lead Angels, SilverNeedle VC, LetsVenture, and Angel.co, led by Archana Priyadarshini.
Currently serving in India, the startup is now exploring international markets, particularly the UAE, Middle East, and Southeast Asia, conducting pilot projects to validate market fit in these regions.
"We are seeing growing demand for digital contract management solutions internationally. Our focus is on expanding beyond India while continuously enhancing our platform with new features," he says.
Beyond geographic expansion, DOQFY is investing in AI-powered contract analytics and predictive compliance monitoring, to help businesses not only execute contracts but also gain insights into their contractual risks and obligations.
Edited by Jyoti Narayan
