Lendtech firm Sandfield Capital has secured a £20m credit facility from Ampla Finance to enable its expansion.
The funding is the first tranche of a £100m fundraise led by private debt finance specialist Altimapa Capital, which helps small and medium enterprises (SMEs) secure funding through a network of over 600 institutional investors.
Sandfield works with a panel of specialist law firms and funds cases in specific legal areas including mortgage interest miscalculation, claims against finance brokers for non-disclosure of commission and housing disrepair claims against landlords.
All Sandfield’s loans are fully insured so in the event that the claim is unsuccessful, the individual has nothing to pay.
Sandfield, which has offices in London and Liverpool, was founded in 2020 by Steven D’Ambrosio, who had previously held senior roles at Close Brothers Group, and with backing from a private investor.
The platform enables claims to be processed rapidly while ensuring regulatory compliance.
D’Ambrosio 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.”
Pedro Tavares, CEO and founder of Altimapa Capital, 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.”
Richard Kennerley, CEO, added: “We’re seeing a number of evolving tech trends in the civil litigation arena.
“Sandfield is well placed to capitalise on these advancements whilst also providing its client base with a high quality, ethical and comprehensive offering.
“We’re delighted to support Sandfield with the £20m credit facility and look forward to working with the management team in the future as they maximise on the market potential.”
