AxiaFunder has announced that the company remains confident of its ability to turn a profit in 2022. In 2020, the platform—which focuses on crowdfunding for legal actions—reported a loss of nearly GBP 400,000.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
AxiaFunder has announced that the company remains confident of its ability to turn a profit in 2022. In 2020, the platform—which focuses on crowdfunding for legal actions—reported a loss of nearly GBP 400,000.
P2P Finance News details that Cormac Leech, AxiaFunder founder and CEO, is optimistic that the firm will become profitable in 2022. He stated that it’s not uncommon for a business to invest in itself in the beginning, with profitability being achieved much later.
AxiaFunder has also announced a new partnership solution for investors, and a secondary market for litigation-related investments. Its investor base has grown by about 70% per year.
Leech explains that his business has funded about GBP 2 million in cases, all told. Five cases have already been successful, with a sixth win expected to be announced soon. This speaks highly of AxiaFunder’s vetting process for cases.
