AxiaFunder is an online litigation funding platform offering claimants and lawyers a fast and flexible funding solution for commercial legitimate cases, specifically those with clear legal merit and sound economics but that for whatever reason have been unable to secure legal financing. Typically, we help lawyers to finance commercial claims that require funding of £25,000 to £1,000,000 with a target turnaround time between 1-2 months from the initial enquiry to funding completion.
With a flexible structure that still maintains the critical legal and financial expertise in-house, we are usually able to appraise your case and make a funding decision faster than our larger peers.
For law firms, funding from AxiaFunder can help to grow their client base, expand their capacity to fund cases on a conditional or contingent fee basis and, in addition, help them manage their own risks and cashflow.
- First case was successfully funded via our platform in January 2019
- To date, 9 litigation cases have been fully funded via our platform of which two have been successfully resolved
- Total amount of capital raised to date is £1,090,440
- Experienced team: Operated by seasoned litigators and bankers focused on building long-term relationships with lawyers through customer service and problem-solving.
- Convenient process: We understand that lawyers have multiple demands on their time. While we rigorously pre-vet every investment on our platform, we take a common-sense approach to our due diligence and avoid box-ticking merely for the sake of procedure. This helps to minimise the workload for the lawyers we work with.
- Flexible claim size: Axia will source non-recourse funding for amounts from £25,000 to £1,000,000.
- Flexible investment mandate: Unlike some other funders, subject to our size constraints, we are able to source capital for a wide variety of claims both in terms of geography and case type.
- Initial response within 1 week: We will provide an initial assessment on your case within 5 working days. If this is favourable, we will request a period of exclusivity to complete our assessment and source the capital, with a target turnaround time of 1-2 months from the initial enquiry to funding.
- Competitive pricing: AxiaFunder’s model, which minimises cash-drag, enables us to offer competitive pricing.
How AxiaFunder (Axia) works with lawyers
1. Initial Assessment: claim presented by lawyer for preliminary assessment and indicative pricing quote (week 1)
2. Full due diligence: Axia requests exclusivity for up to 2 weeks and fully diligences the case (week 2-3)
3. Funding agreement execution: Axia executes the funding agreement and executes a priority agreement with the claimant’s lawyers and ATE provider. (week3-4)
4. Preparation for fundraising: financing arranged via issuance of equity or bonds from an SPV with a confidential offer document prepared by Axia. (week 4-5)
- An anonymised short summary of the investment opportunity is shown publicly on the Axia platform.
- Under NDA and self-certified no conflict with the case, approved investors are given access to the offer document and invest in the case.
- Once the fund-raising is complete, the net funds are transferred to the case SPV, available for transfer to solicitor’s client account as needed. (week 5-8)
6. Case Resolution:
- Axia’s litigation team monitors the case on an ongoing basis and processes additional drawdown requests in line with the litigation agreement.
- Once the case is resolved, the SPV receives its success fee (in line with the priority agreement), distributes the net amount after expenses to its investors, and is wound down.