PURE Business Group agrees new eight-figure funding line with Sandfield Capital.
LONDON – PURE Business Group (PURE), the multi-discipline authorized providers enterprise, has right now introduced a brand new £multi-million funding facility with Sandfield Capital. PURE, which presently handles over 12,000 new directions every year, hopes that this transfer will dramatically speed up its potential to develop report numbers of instances over the subsequent few years.
PURE Business Group CEO, Phil Hodgkinson
The settlement is anticipated to ship dominant market-share within the quantity civil litigation house in PURE’s present six case verticals, plus prolong then throughout 4 new areas of focus. Combined with deliberate will increase within the coming months, PURE will goal 30,000 new instances per yr from 2022, while greater than doubling turnover and revenue.
Group CEO, Phil Hodgkinson commented: “Now in our seventh year of trading, I’m proud to say that our business continues to go from strength to strength. Despite the challenges of the global pandemic, we have remained profitable throughout, and continue to break case settlement records month on month. Aside from fuelling a transformational growth in case volumes, the new funding agreement allows us to launch innovative new products and enter new markets, too. The future is incredibly exciting for this business and our colleagues within it.”
Sandfield Capital CEO, Steven D’Ambrosio stated: “We are delighted to support PURE in its future. Having run an initial pilot with them from January this year, we have already seen 25% of the total funded book come to settlement resolution. Based upon current data, we will see 100% settlement of the pilot scheme cases within a further six months. That has given us the confidence to extend the facility to a significant eight-figure sum, enabling PURE to increase new case volumes significantly and pursue those cases aggressively on behalf of clients.”
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NOTE TO EDITORS //
PURE Business Group was created to supply a novel, progressive and collaborative answer to the civil litigation authorized sector. Founded in early 2015 by Phil Hodgkinson and bringing thirty years’ expertise throughout the insurance coverage and authorized sector, the group employs in extra of 450 workers in 4 UK areas. The group contains various complimentary firms, together with an ABS-structured barristers chambers and legislation agency, a know-how enterprise, a specialist vetting enterprise, a claims-handling enterprise and a number of advertising and marketing manufacturers. Its distinctive mannequin centres round non-recourse CCA disbursement loans to clients, that are totally insured by a big panel of A-Rated Insurers and Re-Insurers. This mannequin permits us to pay attention its personal money stream on enterprise progress and taking up new instances. It also can litigate in quantity, with out constraint, in opposition to any defendants who refuse to return to the desk and settle legitimate instances in an affordable and well timed method.
Sandfield Capital has been designed to assist people pursuing authorized claims and facilitate their entry to justice. It was launched in 2020 by Steven D’Ambrosio, a former Finance Director at Close Brothers Premium Finance, who has conceived and constructed various highly-successful ventures within the monetary and authorized sectors and stays extraordinarily enthusiastic about creating and tailoring funding options. Sandfield works straight with accredited authorized corporations to make sure that all shoppers obtain the very best end result, complimented by straight ahead, progressive merchandise that assist their authorized instances.