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Today: July 14, 2024
June 15, 2024
1 min read

Litipay secures $14M funding from SRM Ventures in Brazil


TLDR:

  • Brazilian legaltech Litipay raised $1.4M from SRM Ventures.
  • The funds will be used to acquire more credits originated from judged and settled lawsuits.

Brazilian legaltech Litipay has secured $1.4M in funding from SRM Ventures, the venture capital arm of SRM Asset. The company plans to use the funds to acquire more credits from judged and settled lawsuits, with the goal of increasing transactions by 400% compared to the previous year. Litipay is a receivables anticipation platform that allows customers to sell their judged and settled lawsuits at a discount to receive credit. Co-Founder Bruno Avena highlighted the company’s focus on microcredit, specifically targeting small legal cases with a small ticket size. Since its founding in 2021, Litipay has facilitated $2.2M in transactions from over 400 lawsuits. The investment from SRM Ventures is expected to fuel the company’s growth and further expansion in the legal credit market.


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