£250m capital raise for litigation and dispute funding

On Tuesday 1st September, Affiniti Finance announced its £250m capital raise for litigation and dispute funding. This raise, backed by a multi-billion dollar US based fund will allow the firm to focus on a significant book build of mid-range loans specifically in the financial mis-selling and personal injury sector in the UK.

Affiniti Finance, the leading Consumer Credit litigation funder in the U.K. was founded by CEO Ian Cunningham and CFO Nicholas Shapland in 2014. In its infancy, it dealt primarily with personal injury loans but quickly expanded its portfolio to include financial mis-sell and a wide range of consumer disputes. The Commercial division of Affiniti Finance also specialises in a diverse range of funding options for high value individual claims, Group/ Class actions, insolvency or portfolio lends.

Since its inception, Affiniti Finance’s main focus has been to provide access to justice, which it has successfully done for thousands of clients to date. Their current investments include more than 5,000 litigation matters, with numbers expected to be in excess of 50,000 year end 2021.

Affiniti Finance now funds a broad spectrum of litigations, which includes mis-sold mortgages and self-invested personal pensions, japanese knotweed and housing disrepair. Their personal injury products cover both injury and negligence claims and their unique Life & Rehabilitation loan provides interim funding for claimants already in litigation who find themselves in need of emergency personal financial assistance before their claim is settled.

Affiniti Finance is also providing additional funding options to law firms for cases such as Plevin, where funding is available on a law firm lend structure direct to the approved panel law firms. These firms utilise Affiniti’s custom built funding platform that integrates with the law firms case management systems allowing seamless funding requests and an efficient application process for customers.

Commenting on the recent capital raise, CEO Ian Cunningham said: “This new debt line provides a significant increase to our available capital and a boost to our investment capability. This enables us to broaden and accelerate the expansion of our portfolio, with a view to ultimately delivering more funding to those that need access to justice. We are continuing our capital raise for our new commercial litigation division which will see a further £150M available for large ticket commercial transactions. We are expecting to close this raise by the fourth quarter of this year”.

Industry reports suggest that many law firms, including well established practices with large litigation portfolios of all sizes have increasingly been drawn to third-party funding options, allowing the firm to manage operational cash flow whilst providing their clients with the funds to advance their litigation. Litigation funding has already become a much more attractive and utilised option over recent years but the ongoing pandemic has increased both the demand and the acceptance of these loans. This Affiniti funding and alignment with panel law firms, allows all stakeholders more access to justice than ever before.

Affiniti Finance’s core values of integrity, honesty and transparency aim to make a meaningful difference to their clients experience of the legal and finance markets.

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