Litigation funding is now for everyone

Lochy Macpherson writes how new developments in litigation funding are making it more accessible for all. Read about how FinLegal is changing the way litigation funding works for the better.

Litigation funding is now for everyone

Funding has historically been seen as complex and inaccessible. Funders can seem picky, with claims required to be of ‘the right type’ or ‘the right size’ to gain traction. These barriers often made it seem difficult to access.

This is no longer true.

New types of funders

In the last five years there has been a growth of funders in the sector who are interested in funding all types of claims. These ‘new’ funders include family offices, hedge funds and private investors. Due to their natures, they are keen to grow the market and look beyond the typical £5m+ funding request that traditional funders focus on.

These funders are looking at all types of disputes. From intellectual property claims, international arbitration, to family and group actions. Funding is no longer the purview of commercial cases.

And this is true for the size of claim too. The breadth of the litigation funding market now allows firms to request funding from £50,000 to £500m+.

The advantages of using funding

Funding provides access to justice for many individuals and SMEs who do not have the means to bring costly litigation. This is particularly true in group actions where many claims would not be able to get off the ground without the use of funding.

Beyond the ethical justifications for litigation funding, there is a clear business case too.

For private practice, funding allows firms to do more business by taking on more disputes.

And for corporate clients in particular, funding offers an effective means of managing risk and taking litigation costs off balance sheet.

How to easily access funding

FinLegal is one of the world’s first online litigation funding and After-the-Event (ATE) marketplace.

The platform grants fee-earners access to funding of all sizes and types, with the ability to work with a variety of funders so you can receive the best deal and outcome for your clients.

It allows lawyers to compare funding options quickly through a simple, single funding request.

In addition the platform allows management and leadership teams to have oversight and control of all funding and ATE requests across the firm.

This article was originally posted in the Law Society Gazette: https://www.lawgazette.co.uk/insights/litigation-funding-is-now-for-everyone/5109923.article