AxiaFunder, the UK-based crowdfunding litigation funder, is looking to raise £150,000 – £300,000 of bridge and expansion equity capital to fund its business to breakeven, which is expected to occur by Q2 2022, and CEO Cormac Leech reports that the company has already raised approximately 65% of the targeted investment after one day.
Since its launch in early 2019, AxiaFunder has funded 13 cases, of which of which 6 have settled with an average IRR of 49%.
The company’s latest investment round puts the company’s pre-money valuation at £5.7 million. Capital will be used to expand its operations, including:
- strategic hires (case assessors);
- technology & product development (including setting up an underwriting/ investing fund);
- marketing, legal & compliance expenses; and
- any other costs associated with expansion.