Private Equity Backing For App Designed For Conveyancers
A tech firm has secured private equity investment to support the growth of an app set to disrupt the conveyancing sector.
Inflexion Private Equity has supported a minority investment of £1.5 million in Lavatech Limited – developer of the inCase platform – which offers an innovative client communication channel and drives in-house efficiencies.
Launched in 2013, the app enables users to send secure documents and pictures, obtain electronic signatures for contracts for buyers and sellers and keep clients informed in the progress of cases. inCase also offers an instant message facility and facial recognition security, as well as being the only provider to scan and verify clients’ passports via Apple and Android devices using ground-breaking NFC chip reading technology.
The app has supported conveyancing firms to improve efficiencies and reduce cost in what is a highly competitive market, while enhancing standards of service.
CEO and Founder of Lavatech and the inCase platform, Sucheet Amin, is also the Senior Partner and Founder of award-winning PI firm Aequitas Legal and a former President of Manchester Law Society. Speaking of the investment deal, he said:
“As a lawyer myself, I’m acutely aware of how easily productivity can be hampered by legacy systems and processes as the demands of my clients consuming legal services evolved. After many years of feeling frustrated, I identified a genuine requirement to improve client satisfaction and reduce stress on all parties and I knew that technology was the solution.
“Apps such as inCase have the potential to disrupt the consumption of legal services and bring the sector up to date with other industries in terms of its use of tech. Users are already benefitting from quicker transaction times for clients and reduced workloads for lawyers. This investment will enable us to scale-up quickly and make trailblazing improvements to the platform’s capability.”
The COVID-19 pandemic has been a catalyst for rapid growth for Lavatech, as firms have recognised the requirement to deliver an impressive client experience remotely. Upcoming features include a payment facility and secure video conferencing.
Inflexion’s investment has also facilitated a valuable relationship between Lavatech and O’Neill Patient LLP – a leading B2B tech‐enabled provider of property and remortgage conveyancing services. Inflexion invested in the firm in July 2019 and it is set to become the biggest user of the inCase platform.
Adam Forshaw, Managing Director from O’Neill Patient, said:
“As a result of a widespread pause on property transactions, conveyancers have been impacted hugely by the pandemic. As the market reopens for business and we prepare to deal with a pent up consumer demand, delivering a first class client experience has never been more crucial.
“inCase helps speed up transactions and save firms money. Speaking from experience, I can tell you that it’s a must for conveyancing firms.”
Throughout the deal, Lavatech was advised by Nick Wallis and Priyesh Dhana at Gerald Edelman and David Easdown and Ryan Tweedale from Knights Plc. Inflexion was supported by Alasdair Outhwaite and Rosie Spencer at DWF Law LLP and Daniel Wright of Deloitte provided Financial Due Diligence.