Litigation funder Fenchurch Legal has been added to the lending companies on Mintos’ marketplace.
It is the third UK firm currently offering loans for investors to back on the European alternative finance marketplace.
Fenchurch Legal is a UK-based specialist in litigation financing and backs small claims such as housing disrepair, personal injury, and pension mis-selling.
Average loans are €3,500 (£3,000), with a typical term of six to 12 months.
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Fenchurch Legal’s loans on Mintos will be listed as business loans and can be backed manually and through the platform’s automated strategy.
“We are delighted to be joining the Mintos platform, offering Mintos’ investors access to a new and unique opportunity not seen on the platform before,” Louisa Klouda, managing director of Fenchurch Legal, said.
“The impact of the pandemic has been highly damaging and throughout the year we have seen law firms experience an increased demand for their services, hence resulting in increased demand to fund the cases.”
Klouda said the company aims to grow its portfolio to at least £40m over the next two years with the help of Mintos.
The two other UK lending companies on Mintos are consumer lenders Evergreen Finance and Novaloans.
All three offer average interest of 10.7 per cent.
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