The B.C.-based legaltech company is working with Stripe on a new program, Clio Capital, that helps U.S. law firms qualify for loans issued by Celtic Bank. (The Logic) 

Talking point: Clio called the launch an expansion of its “fintech ecosystem.” It comes as legal software companies like Clio face pressure to prove they can keep up with emerging AI giants like Anthropic that are launching their own legal AI assistants. Ed Walters, Clio’s vice-president of legal innovation and strategy, told The Logic earlier this month that its archive of law-firm billing data was one factor that helps it hang on to long-term customers. Clio Capital will target law firms that face a financing gap, since they no longer qualify for U.S. government-guaranteed small business loans, and lack other types of collateral to qualify for traditional bank loans, the press release said. The company’s valuation reached US$5 billion last November, when it raised another US$500 million and secured a US$350-million debt facility.