FinTech portfolio company and legal / medical funding software provider Mighty has raised $9m of equity financing co-led by existing investors IA Ventures and Tribeca Venture Partners, combined with $100m in credit from institutional capital providers. We have been ardent supporters of Josh and the Mighty team since the early days, and are super excited as they move closer to the big vision of creating responsible plaintiff financing for all.
It’s a big bet that Mighty’s technology platform will allow their users to work more efficiently than competing legal funding groups not using Mighty’s technology. If it works it could not only prove the benefit of their product but also generate outsized returns for this new funding vehicle. To be clear the groups that use Mighty’s platform are making investments and not loans in personal injury plaintiffs. This means that if the case is lost, the plaintiff doesn’t owe any money to the originator.