On Tuesday, LitCap, a litigation funding technology platform that connects preeminent attorneys with lenders to facilitate case cost financing, announced its technology release 4.0.1. This release is considered an alternative asset funding of litigation financing for lenders.
Britton Holland, COO and President stated:
“LitCap’s release 4.0.1 significantly enhances the user experience for both our lawyer and lender members, which allows for a more efficient and user-friendly attorney financing process. The investor and lender community can truly benefit from access to LitCap.”
Additionally, LitCap revealed it has surpassed more than $235 million in case financing capital invested at high yield returns since its launch in 2013. In early 2015, the company expanded its suite of products, specifically tailored to attorneys and law firms for case cost loans, to include law firm and business expense financing, which extends the range of loans beyond just case costs and expenses.
The LitCap Marketplace offers institutional finance groups a portfolio of high yield returns uncorrelated to standard market dynamics. Additionally, LitCap’s quality control platform creates a diverse and quality driven portfolio of case types and sizes.
Hugh J. Plummer, Jr., CEO and Managing Director, commented on the purpose of LitCap:
“LitCap is the new industry standard in litigation financing for lawyers to ethically and efficiently fund their clients’ case-related costs and expenses. Lawyers have been financing their contingent cases the same way for decades, just as it was done when Abraham Lincoln was trying cases, before the telegram, before the car, and before electricity or the internet.
“Having a platform such as LitCap mitigates the ability for the big guy to outspend the little guy in litigation, and truly brings balance to our civil justice system in the United States. It also brings lawyers out of the past and into the modern financing and lending era. We believe that LitCap is to case financing what Westlaw and Lexis Nexus were to legal research.”