A firm that provides loans to people pursuing legal claims is to expand and create new jobs in Liverpool after securing £20m credit facility. Tony McDonough reports
A ‘lendtech’ company that provides loans to individuals pursuing legal claims is set to expand its Liverpool operation after raising an extra £20m.
Sandfield Capital was founded in 2020 by Steven D’Ambrosio who has previously held senior roles with Close Brothers. It works with a panel of specialist law firms and funds cases in specific legal areas.
They include housing disrepair claims against landlords, claims against companies for loss or breach of customers’ personal data, mortgage interest miscalculation, and claims against finance brokers for failing to disclose commission.
All Sandfield’s loans are fully insured so in the event that the claim is unsuccessful, the individual has nothing to pay.
Now the firm, which has its operations centre at The Plaza in St Paul’s Square in Liverpool, will create an extra 10 jobs in the office after securing a £20m credit facility via Ampla Finance.
This is the first tranche of a £100m fundraise being led by private debt finance specialist Altimapa Capital. It engages directly with a network of more than 600 institutional investors.
Steven Ambrosio, chief executive Sandfield, said: “Sandfield Capital provides access to justice for individuals who may otherwise be unable to pursue a claim.
“We support cases in areas of clear demand which have been overlooked by other finance providers and help tenants, home owners and others to seek justice through the courts.
“This funding will help us to meet the growing demand and is the first phase in our journey to raise £100m to transform our business and help us bring access to justice for many more individuals.”
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Ampla Finance is an alternative commercial and consumer finance business that provides funding for borrowers and private individuals who require funding for life events such as divorce or inheritance.
Founder and chief executive Pedro Tavares added: “Sandfield Capital has a well-thought-out business model and a sound proposition, however as a niche operator, it failed to tick the right boxes for traditional funders.
“We are delighted that we were able to find the right match and structure a deal that highlights the expertise and professionalism of all parties involved.”