InterResolve nabs major funding

Independent injury claims specialist InterResolve has secured a major funding deal with venture capital firm Balderton Capital.

The company will use the funding to expand its personal injury claims business. It has a substantial war chest of around £30m for acquisitions, the company said. Balderton Capital partner Tim Bunting will also join the board of InterResolve.

InterResolve chief executive Peter Ashdown-Barr said: “Costs and delays, particularly in small injury claims, continue to challenge insurers and claimants despite the forthcoming Ministry of Justice rule changes. As InterResolve is not a law firm, we can work with both sides outside the usual legal process and deliver significantly greater savings for insurers, while ensuring claimants get independent advice.”

Bunting said: “The volume of claims and response from insurers shows a robust solution is required to achieve real change. We believe that InterResolve has the structure and ability to deliver that across the market, and we have every confidence in Peter’s ability to build the business further.”