Source: Prolific North
In a bid to increase access to justice across Europe, IQuote Limited has signed a €25m deal to support Málaga based Cartel.es as it looks to expand across the continent.
The Spanish company, which is the trading name of LegalTech Ventures S.L, was founded to tackle the vehicle cartel price-fixing scandal, which implicated 23 vehicle manufacturers from 2006 – 2013.
The scandal was brought to light by the National Markets and Competition Commission (CNMC) in 2015. They claim that cartels involving companies in the same sector covertly fix prices, share territories and customers, and exchange sensitive commercial data. It is thought to impact about 9.7 million consumers in Spain.
Craig Cornick, IQuote’s CEO and founder, said the investment is a strategic move to help more people across Spain obtain the justice they deserve. “Cartel.es is doing a very important job for the people affected by these corporate cartels and we couldn’t be prouder to be supporting the firm’s mission. The investment will not only provide financial backing to the company but also make justice a tangible reality for those in Spain and beyond.”
Co-founder and chief investment officer, Adam Peake, said: “We are very proud of the work that we do. These types of claims are not easy to approach so we are very excited to be partnering with IQuote, which has such a track record when it comes to complex legal matters. We’ve seen tremendous success so far and we’re looking forward to IQuote’s support and expertise in making lasting contributions to the European legal landscape, bringing justice closer to more people.”
Founded in 2016, IQuote Limited, specialises in legal asset and opex capital loans, with a primary focus on legal asset investing.
Read full article: https://www.prolificnorth.co.uk/news/manchester-firm-invests-e25m-in-spanish-legal-tech/
