Litigation finance firm acquires more than 1,000 crypto currency cases
Manchester-based litigation finance firm, IQuote, has acquired more than 1,000 cases to support victims of crypto crime recover their losses.
The deal will enable the firm to become a leading force in the fight for justice against crypto fraud.
IQuote is financing the cases for law firms whose clients have either been scammed out of existing cryptocurrency or tricked into purchasing and then transferring the assets to criminals.
The firm is funding cases, obtained through marketing and organic traffic, worth between £10,000 and £10m.
It comes amidst the backdrop of a growing number of fraudulent crypto schemes, which recently saw two men jailed for their £5.7m cryptocurrency scam.
IQuote chief executive and founder, Craig Cornick, said: “At IQuote, we are continually evolving our funding strategies to stay aligned with the dynamic and rapidly changing litigation landscape and are committed to helping victims receive justice.
“Our goal is to ensure that our financial solutions not only meet the current demands of the legal industry but also anticipate future trends, providing innovative and sustainable funding options for our clients.”
He added: “We view ourselves not just as funders, but as partners in innovation with a passion for empowering law firms to achieve beyond their potential and establish new benchmarks in the legal industry.”
With more than £110m in recovered damages and more than 45,000 cases settled to date, the firm said it has demonstrated an invaluable ability to navigate its way through the ebb and flow of the market all while investing a substantial amount in tech and AI.
Mr Cornick added: “Through our funding initiatives and strategic investments, we look forward to building on our latest successes and continuing to take our legal practices from strength to strength, but most importantly, helping people obtain justice who otherwise couldn’t.”
In March this year IQuote signed a €25m deal to support a pioneering Spanish legal tech company.
In a bid to increase access to justice across Europe, IQuote will provide financial backing to Málaga-based Cartel.es as it looks to expand across the continent.
