myBarrister, which launched in June last year, already has over 100 barristers signed up, including a number of leading QCs. Income to date is already in six figures. To boost the business to the next level, the organisation is looking to raise £150,000 through Crowdcube, the online crowd-funder.
Regulatory changes now allow barristers to accept instructions directly from businesses and individuals, rather than exclusively through a solicitor. Therefore, thousands of barristers are seeking out their own work. myBarrister aims to be barristers’ preferred route to market, both in the UK and internationally.
Marking a milestone in the legal industry, myBarrister is the first barrister service to seek crowdfunding, which will allow investors to input anything from £10 to £100,000 – or more – and reap attractive tax benefits from the investment.
The myBarrister team comprises Ronald DeKoven as CEO (senior New York lawyer, British barrister, entrepreneur in the technology space), Jonathan Maskew, Director of Barrister Recruitment, Bruce Webster, Director of Branding and Marketing, and Plamena Metodieva, Director of Operations.
The funding campaign will begin in March 2014. myBarrister will use the money to expand its recruitment team and bring more barristers on board. The funds will also be used to ramp up marketing to drive client enquiries through to the website, and ultimately the barristers themselves.
Ronald DeKoven, CEO of myBarrister, comments: “myBarrister gives barristers a cost-effective route to market and offers businesses and individuals access to some of the best legal minds in the country.
“Our online marketing campaign is driving clients to our state-of-the-art website, where they can search for and get in direct contact with exactly the barrister they need. With additional funding we can significantly accelerate our progress while providing the market with a safe, alternative form of investment.”