Private equity backing of £1.5m for legal app
A Manchester-based tech firm has secured private equity investment worth £1.5m to support the growth of an app set to disrupt the legal sector.
Inflexion Private Equity has supported a minority investment of £1.5m in Lavatech – developer of the inCase platform – which offers lawyers an innovative client communication channel and drives in-house efficiencies.
Launched in 2013, the app enables users to send secure documents and pictures, obtain electronic signatures and keep clients informed on the progress of cases.
It also offers an instant message facility and facial recognition security, as well as being the only provider to scan and verify clients’ passports via Apple and Android devices using ground-breaking NFC chip reading technology.
Targeted towards conveyancing and personal injury firms in particular, the app is currently used by more than 40 practices, a figure which is expected to double over the next 12 months.
Chief executive and founder of Lavatech and the inCase platform, Sucheet Amin, is also the senior partner and founder of award-winning PI firm Aequitas Legal and a former president of Manchester Law Society.
He said: “As a lawyer myself, I’m acutely aware of how easily productivity can be hampered by legacy systems and processes as the demands of my clients consuming legal services evolved.
“After many years of feeling frustrated I identified a genuine requirement to improve client satisfaction and reduce stress on all parties and I knew that technology was the solution.
“Apps such as inCase have the potential to disrupt the consumption of legal services and bring the sector up to date with other industries in terms of its use of tech.
“Users are already benefiting from quicker transaction times for clients and reduced workloads for lawyers. This investment will enable us to scale-up quickly and make trailblazing improvements to the platform’s capability.”
The COVID-19 pandemic has been a catalyst for rapid growth for Lavatech, as legal firms have recognised the requirement to deliver an impressive client experience remotely.
Andrew Neville, investment director at Inflexion, said: “Now, more than ever, consumers need reassurance from experts. Client satisfaction has never been so vital and inCase delivers a smart solution to this very real industry problem.
“The business benefits from insider knowledge of the sector and this, coupled with a whole host of exciting developments in the pipeline, demonstrates an opportunity for significant growth.”
Upcoming features include a payment facility and secure video conferencing.
Inflexion’s investment has also facilitated a valuable relationship between Lavatech and O’Neill Patient, a B2B tech‐enabled provider of property and remortgage conveyancing services. Inflexion invested in the firm in July 2019 and it is set to become the biggest user of the inCase platform.
Throughout the deal, Lavatech was advised by Nick Wallis and Priyesh Dhana at Gerald Edelman and David Easdown and Ryan Tweedale from Knights.
Inflexion was supported by Alasdair Outhwaite and Rosie Spencer at DWF Law and Daniel Wright of Deloitte provided financial due diligence.