The UK arm of US online legal services company LegalZoom has revealed a loss of £2.1m in its first year - as a result of strategic investments in the business. The company acquired Beamont Legal in 2016 for £6.4m. Its UK arm Beaumont ABS is optimistic about the company going into profit after a healthy start to this year, according to Legal Futures. LegalZoom was set up in the US in 2001 and has revenues of $200m. It is an online legal technology company that helps its customers create an array of legal documents without having to hire a lawyer. The UK arm is introducing a new conveyancing portal as part of its services.
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