Lawyer-free UK divorce services company amicable has secured a further £1.2m in funding, led by 24Haymarket and existing angel investors.
The funding follows a period of rapid growth for the business and comes at a pivotal time for the industry, with new ‘no fault’ divorce legislation coming into effect in Spring 2022.
Amicable says it will use the investment to reach more customers, grow the team and to develop new technology to assist couples with their financial settlements.
Commenting on this latest funding, Pip Wilson, CEO of amicable said: “From inception, amicable has disrupted the family law market by taking a customer-eyed view of the legal services sector. We now stand on the edge of the biggest change to divorce laws in over 50 years and we are hugely excited by the opportunity to help more couples and shape a changing narrative around divorce for our customers.”
In 2020, there were 103,592 divorces granted in England and Wales with an average of £14561 spent in legal fees. The latest funding of amicable follows a seed investment raise of $2m by legal tech divorce site Hello Divorce in July 2021.
James Campin, investment executive of 24Haymarket, said of amicable: “The business is in an excellent position to grow its reach following the incoming No Fault divorce legislation and continue to provide a service enabling individuals to work together and co-parent after separation. Following this capital injection, we hope that more individuals will be aware of amicable’s offering to divorce harmoniously rather than get bogged down with the often long, difficult, and expensive traditional lawyer-led approach.”