CJ Communications

About CJ Communications

ClaimAngel operates as a financial technology marketplace focused on the legal funding sector. The company, founded in 2022 by Jeremy Alters and headquartered in Boca Raton, Florida, aims to streamline the process of obtaining legal funding for individuals with pending personal injury claims, attorneys, and law firms.

The firm's business model is centered around its online marketplace that connects claimants and law firms with a network of vetted funding companies. Claimants, through their attorneys, can apply for funding, and once approved, their claim is listed on the marketplace for funders to view and finance. This competitive environment is designed to ensure favorable rates for the claimants. ClaimAngel does not directly fund the claims but facilitates the transaction, creating efficiency for funders by reducing their overhead costs related to lead generation and servicing. The company offers a standardized simple interest rate of 27.8% with a 2x cap, and repayment is contingent on the claimant winning or settling their case.

The platform serves three primary client segments: individuals (claimants) needing financial assistance while their case is ongoing, attorneys seeking funding options for their clients or their firms, and funding companies looking to deploy capital efficiently. For claimants, the service provides the financial stability to wait for a fair settlement. For attorneys, it offers a tool to meet ethical obligations by providing clients with access to multiple funding offers. For funders, it presents a diversified portfolio of vetted claims, reducing administrative burdens. The company has secured $1 million in a seed funding round in April 2023 and has reported processing significant claim volumes through its platform since going live in May 2023.