Volume claims onboarding and funding platform Disputed.io says it has increased its seed investment to £1m from investors buying into the growth of both multi-party claims and third-party litigation funding.
This latest round of investment includes funding from TrueSight Ventures, an early-stage VC based in the UK. Pre-seed technology investors and incumbent industry figures including Tim Berry of TheClaimsGuys.
Disputed.io, which was founded in 2018, has already brought to market litigation onboarding solution CaseFunnel for repeatable and class action claims. The fundraise will help it to launch online litigation funding marketplace FinLegal. FinLegal is entering its final Beta testing stage before being formally available to law firms in the late Autumn.
CaseFunnel helps law firms and Claims Management Companies to onboard clients and automates many aspects of repeat, volume and class action claims. Disputed.io says it has contracts with a number of market-leading firms including Mishcon De Reya (UK), Brown Rudnick, Keller Lenkner UK and emerging firms like Charles Lyndon.
FinLegal is a ‘free-to-lawyer’ solution that connects those needing litigation funding or ATE insurance with multiple providers. In addition to better access to the market, by adopting the solution the firm’s leadership team receive valuable insights on live funding and ATE requests, helping them drive fees and ensuring quality across requests.
Luke Harrison, Partner & Solicitor–Advocate at city disputes boutique firm Keidan Harrison LLP and an advisor to Disputed said: “CaseFunnel brings much needed connectivity and digital transformation to the claims and group-litigation market and is being used to handle mass-employment claims, vehicle emissions litigation, business interruption insurance and data misuse claims. Litigation funding, whilst improving access to justice, has been difficult to access for many claimants.
“Disputed.io brings together world class leading technology for end-to-end claim administration and an online marketplace for the financing of litigation. The start-up’s rapid growth is unsurprising given the trends in the markets it supports.”
Steven Shinn, Disputed CEO said: “CaseFunnel is consistently being selected by firms running high volume and group litigation claims. We’re delighted that Investors have recognised the advantages that CaseFunnel has over basic onboarding and ID products and want to benefit from our growth. As well as the investment being used to scale our team to support more firms, it will help us to launch our unique legal funding solution, FinLegal.io, which is set to accelerate the adoption of litigation funding.”
Litigation finance is big business and in September last year, Legalist, which helps to raise finance for litigation, raised $100m.