Category Archives: Consumer

Baker Street Funding Secures $30 Million for New Attorney Focused Fund

NEW YORK, NY / ACCESSWIRE / September 23, 2019 / A leading pre-settlement funding provider, Baker Street Funding LLC, announced today the closing of a series A round of investment into their Attorney Funding Division. Founded in 2018, Baker Street Funding has quickly become a rising star in the legal funding space and their core business model is to provide plaintiffs with much needed liquidity while their case is awaiting settlement. The newly named Attorney Funding Division will provide Attorney Funding to law practitioners across the country.

NYU Center on Civil Justice Hosting Litigation Finance Conference

The Center on Civil Justice recently launched its Dispute Financing Library, a free, neutral repository of documents relating to the third-party litigation funding industry.  It is online at www.DisputeFinancingLibrary.org.

Modeso LLC Announces New Senior Credit Facility

KATONAH, NY / ACCESSWIRE / October 1, 2019 / Modeso LLC dba RapidFunds (“RapidFunds” or the “Company”) announced today that it has closed on a $70 million term loan facility, consisting of a $40 million delayed draw term loan and $30 million accordion feature, with a multi-billion dollar institutional investment firm. This financing provides the Company a long-term capital partner to enable RapidFunds to grow its business and expand its network of law firm relationships.

Multi Funding USA Earns NMLS Certification

Woodstock, NY—September 24, 2019 — Multi Funding USA, a leading pre-settlement funding provider serving law firms and attorneys, announced that it has received NMLS  (Nationwide Mortgage Licensing System and Registry) certification, indicating that the company has the financial resources and security protocols to satisfy the needs of lawyers and plaintiffs. Applying for NMLS certification is completely voluntary. Only a select group of litigation finance providers have applied and received NMLS designation.

Founder of Oasis Suing Former Owner; Hedge Fund D.E. Shaw

One of the largest hedge funds in the world, D.E. Shaw, previously owned consumer legal funder Oasis Financial through a side pocket fund (separate Private Equity subsidiary). In 2016, Shaw sold Oasis to PE shop Parthenon. Now, Gary Chodes, Oasis’ founder, is suing D.E. Shaw claiming that the hedge fund sold off his company for less than it was worth, and that it paid out equity holders while he got nothing, despite his having an equity stake and a board seat. 

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