Online matchmaking site MyBarrister is seeking 'crowdfunding' of £150,000 to challenge the role of solicitors as first port of call for legal advice, the company announced today.
The site, set up in June last year, matches individuals and businesses looking for legal advice with specialist barristers in their area.
So far it claims more than 100 barristers have signed up, including 12 QCs. Barristers pay £1,200 per year to be part of the service, which can also be used by solicitors looking to instruct counsel.
The business said today it intends to raise funds through crowdfunding website Crowdcube, which allows business to raise capital of between of between £10 to £100,000 over the internet.
It intends to use the money to expand its recruitment team, attract ‘hundreds more’ barristers, and improve marketing. The company has not yet made a profit.
Founder Ronald DeKoven, former Shearman & Sterling partner and dual-qualified US lawyer and barrister, said: ‘Our online marketing campaign is driving clients to our state-of-the-art website, where they can search for and get in direct contact with exactly the barrister they need.
‘With additional funding we can significantly accelerate our progress while providing the market with a safe, alternative form of investment.’
Bruce Webster, myBarrister’s director of branding and marketing said the company would be seeking further rounds of funding as the business grows.