AxiaFunder prepares to take £300,000 crowdfunding campaign public
AxiaFunder is working on an auto-invest style model for its litigation funding platform, as it prepares to go live with a public crowdfunding campaign for its own business.
The platform, which offers investors annual net returns of 20 to 30 per cent for backing legal cases, is seeking £300,000 from a crowdfunding campaign that will go live on Seedrs from 9 March.
Cormac Leech, chief executive of AxiaFunder, said crowdfunding rather than seeking venture capital helps the platform engage with investors and is less restrictive and time consuming.
The money raised will be used for recruitment, marketing and technology development, which includes creating a panel of assessor, barristers and legal experts to consider cases.
“This will be innovative an exciting UK based opportunity,” Leech said.
“We also have ambitious international plans outside the UK.”
The crowdfunding campaign has raised more than £150,000 privately so far.
Leech also told Peer2Peer Finance News that the platform is working on an auto-invest model to allow investors to diversify automatically across projects.
“We have an auto-invest model in the works, where investors can elect automatically to put the minimum investment of £500 into each case.
“We currently have a case in our pipeline that will be a portfolio of three packaged as an investment opportunity.”
Read more: Litigation finance special report
