Online barrister service myBarrister.co.uk said today it will expand and revamp its website after raising £163,000 from investors through ‘crowd-funding’.
The company said that 65 individuals invested sums, with the largest £50,000.
MyBarrister had set out to raise £150,000 through Crowdcube, an online platform through which startups and small businesses can find investors. However a spokeswoman said that owing to the popularity of the scheme, the ‘investment window’ has been extended.
The funds will help the business to grow the number of barristers registered with the service from 100 to 1,000 in the next 12 months.
Among its current crop of counsel are 11 QCs, including Outer Temple’s Robert Rhodes, St Pauls Chambers’ Simon Myerson and William McCormick at Ely Place Chambers.
The service was launched in June 2013 by dual New York and English qualified lawyer Ronald DeKoven to take advantage of regulatory changes that allow barristers to accept instructions directly from businesses and individuals, rather than through a solicitor.
DeKoven said: ‘myBarrister has ambitions to be the preferred route to market for barristers globally. This vital investment through Crowdcube will allow us to drive the business forward and achieve that goal.’