Augusta Ventures, the specialist litigation funder, is further streamlining its application process to provide potential claimants with quicker access to funding for legal cases.
With costs budgeting now an integral part of the litigation process, the company is offering solicitors budgeting advice from a qualified cost lawyer to help inform everyone about the costs risk.
Further, Augusta is giving litigants and the lawyers the opportunity to meet or discuss their case with case analysts earlier in the application process than has been the case until now.
This will help solicitors to demonstrate the merits of the case, answer case review questions and provide a realistic budget for the process.
Jeunesse Edwards, Augusta’s strategic engagement director, says: “Moving away from requirements of the solicitor to complete forms to a process where we discuss the case in a collegiate manner will expedite the due diligence process and strengthen our relationships due to increased transparency.”
The new process builds on the successful launch of Augusta’s new financing product for early stage claims, which offers claimants funds towards the costs for an opinion from a solicitor and, where the case has merits, from counsel too.
Since launching the new product, Augusta has seen most interest in funding counsel and expert opinions, and has also successfully turned around an application through to investment in just three days.
Jeunesse says: “We’ve already funded more applications than we expected. We believe we’ve identified a dormant market and that we’re providing more certainty to potential claimants for whom cost may have been a barrier to accessing justice. Our new funding product, combined with our improved service, is enabling potential claimants to check their chances of success without the prospect of losing valuable funds in the process.”
Since launching at the end of 2014, Augusta has funded 68 cases, totalling over £15.5 million.