As litigation funding is predicted to continue its impressive growth, it is perhaps no surprise that beyond the traditional cohort of funders, small fintech companies are starting to look to the sector as a lucrative investment opportunity. Another example has reinforced this trend, as a Spanish fintech is entering the world of litigation funding with a focus on disputes targeting UK banks.
An LFJ Conversation with Jonathan Stroud
As litigation funding is predicted to continue its impressive growth, it is perhaps no surprise that beyond the traditional cohort of funders, small fintech companies are starting to look to the sector as a lucrative investment opportunity. Another example has reinforced this trend, as a Spanish fintech is entering the world of litigation funding with a focus on disputes targeting UK banks.
Reporting by Fintech Finance News highlights the entry of 11Onze, a community fintech based out of Catalonia, into the world of litigation funding with two tranches of €100,000 investments already raised. Due to the current economic instability that is impacting traditional investments, 11Onze has turned to litigation finance as an avenue to generate financial gains for its community of investors.
James Sène, chairman of 11Onze, explained that the fintech’s litigation funds will primarily target litigation around Personal Protection Insurance (PPI) that was wrongly sold to customers by UK banks. Outlining the broader aims of 11Onze’s litigation funds, Sène said that “this not only helps fight for justice; it also offers great returns on your savings above inflation.” Hoping to reassure the 11Onze community around the risks involved with investing in litigation finance, Sène stated that all of the capital involved is being covered by insurance from AM Best.
