How Raistone helped Kodak Law achieve 20X growth via working capital solutions
Needing to grow their relationship with a large financial institution, Kodak Law, a collection litigation firm, began working with Raistone to advance their working capital.
Kodak Law must pay court costs and other expenses related to collection litigation on behalf of their clients. These costs are paid by clients, but they must be advanced and invoiced. Thomas Michael, Managing Member at Kodak Law, saw that as the firm’s volume of work increased, so did the working capital requirement.
How Raistone supported the company’s growth
Kodak Law was able to use an Accounts Receivable program from Raistone to quickly and easily address their working capital needs. Because our services carry no commitment, Kodak Law successfully concluded its relationship with Raistone due to the growth they experienced from our solutions.
“By leveraging the financial support from Raistone, we were able to grow the size of our firm by 20x over the last 3-4 years,” said Michael.
Raistone helped Kodak Law leverage the value of their receivables and significantly reduce the amount of working capital they required on hand.
“The Raistone team always rose to meet the challenge. We asked them to help us create a unique process that worked for everyone – including our Fortune 500 clients, and they worked tirelessly to get it done,” shared Michael.
Raistone working capital solutions for the legal industry
Raistone offers unique and tailored solutions that can be valuable and beneficial to lawyers of all types. Whether your business needs to advance payments of invoices due to you, or you have clients that require business funding, Raistone can help.
Post-settlement and working capital financing solutions from Raistone help law firms and settlement claims service providers address their liquidity issues. With this extra cash, they are able to invest in their business and grow with marketing, staffing, operations, and case expenses. With Raistone, law firms can monetize settlement fees and commissions immediately, rather than waiting multiple years to validate claims and collect distributions from a settlement administrator. We also enable firms to accelerate cash flows, allowing them to get paid weeks earlier than waiting on clients to make payments. This money is not a loan, so it can complement other sources of liquidity, and it is optional to use, with no ongoing fees.
Law firms that represent business clients can also refer their clients to Raistone. Our non-debt financial solutions can assist the needs of your clients while earning you a sustainable new, ongoing revenue stream through our referral program. Clients that work with Raistone benefit from our scale, access to alternative capital, track record and expertise in arranging reliable finance solutions. Learn more about how partnering with Raistone can earn you money for each new referral where we provide financing.
Raistone programs are funded through a diversified pool of capital including institutional investors, funds, and family offices. We currently fund billions of dollars in working capital programs across a wide range of industries. Due to the variable nature of the legal industry, cash flow is often uneven, inconsistent, and unpredictable. With a variety of liquidity solutions that service the unique needs of law firms, Raistone is here to help.
About Raistone
Raistone was born with the vision of equalizing access to working capital and meeting the demand for working capital on a global scale. A world-leading fintech collaboratively owned by a full-service broker dealer, $30 billion family office, a $900 billion wealth manager, and an international bank, Raistone enables the financing of billions of dollars in transactions every year. Its best-in-class technology coupled with unparalleled access to institutional capital extends financing to companies of all sizes, fully integrated with the same software platforms they already use. Raistone works to ensure that all businesses have access to their money, on their terms.
As a leading fintech, Raistone provides solutions that are typically covenant-light and faster to execute than comparable solutions from other finance providers. Raistone’s success and leadership has helped to forge partnerships with some of the largest and most trusted brands in the worlds of finance and technology – creating the ideal mix of Fin and Tech.
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