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A Sydney-based legal financing lender for separated couples, offering finance based on the likelihood of a relationship settlement rather than their credit score, income or employment, has secured a $200 million funding facility from MA Financial Group (ASX: MAF) as a "clear vote of confidence" in the JustFund platform.
The liquidity boost comes as Just Fund is experiencing a 40 per cent year-on-year increase in applications for funding, aided by collaboration with an extensive network of more than 900 accredited family law firms nationwide.
Today's announcement comes just eight months after JustFund announced a $75 million senior debt facility from Global Credit Investments (GCI), as well as $11 million in mezzanine funding provided by various family offices.
In that time the size of its network of supporting law firms has risen by 50 per cent, with the company facilitating more than $1.3 billion in relationship property assets to date.
The company has also recently launched in New Zealand with an office in Auckland, local legal staff, and several local top-tier accredited family law firm partners on board.
The idea for JustFund came about when Sydney lawyers Jack O’Donnell and Andy O’Connor saw firsthand how many everyday Australians were turned away from legal help simply because they couldn’t afford it.
Seeking to rectify this injustice, they developed a vision for a new kind of financial service where access to legal support wasn't determined by personal wealth.
In 2022 they teamed up to found JustFund with fintech entrepreneur Craig Carroll, the founder and managing partner of Xilium Capital which provided its initial $7 million in debt funding, and also led a $5.7 million seed round.
Other backers of the fast-growing lender include Startmate, The Legal Tech Fund from the United States, GXE, Quay Fund Services, impact investment firm Tripple, UpBank founder Dom Pym, and Matt Allen of Tractor Ventures.
By providing a unique line of credit that’s secured against a client’s likely legal settlement, JustFund allows clients to engage a lawyer immediately and only repay once their case is resolved. For many, this financing is the difference between staying in unsafe relationships or moving forward with confidence and dignity.
"This facility is more than just capital — it’s a clear vote of confidence in the JustFund model, and recognition of the urgent social need we are solving. This marks a pivotal new chapter for our company and the people we support," says Carroll, who is also JustFund's executive chairman.
"Divorce doesn’t discriminate. Separation affects Australians from all walks of life - including those who appear financially comfortable on paper, but whose assets are tied up in property or frozen by virtue of the legal process.
"Even people who have worked hard and built wealth can find themselves unable to afford legal representation when it matters most."
The business describes the latest deal as "highly competitive, as three major banks and four institutional credit funds submitted term sheets.
"We were fortunate to be in the position to choose our partner, and MA Financial stood out as the right fit," Carroll adds.
"Their deep experience in legal finance and their commitment to innovation meant they understood both our market and our mission."
He says access to justice shouldn't depend on wealth, with the new funding allowing JustFund to support more Australians through one of life’s most stressful and vulnerable experiences, and doing so with "compassion, fairness, and dignity".
The startup notes its partnership with MA Financial comes at a time of increasing social strain, with the cost-of-living crisis, rental shortages, and domestic pressures making separation even more precarious.
"Too many New Zealanders are stuck in limbo because they simply can’t afford to leave; or they settle for less than they deserve because they get worn down by the financial pressure," says Lauren Milne, the company's director of family law for New Zealand.
"We want to ensure that access to justice isn’t a privilege - it’s a right. JustFund enables that right to be exercised by reducing the financial strain and empowering clients to pursue a fair settlement on their terms.
"Time and time again I watched clients forced to give up fair settlements because they couldn’t fund the legal fight. When I saw what JustFund was achieving in Australia, I knew New Zealand needed this too."
MA Financial Group's executive director of global credit solutions, Guy Kaufman, says the group was attracted to JustFund’s operating model, disciplined underwriting, and consistently strong credit performance, particularly given its substantial loan portfolio growth over the past two years.
"The bespoke asset-backed lending facility we designed for its specialised funding platform highlights private capital's ability to develop tailored funding solutions," Kaufman says.
"We view this partnership as an opportunity for MA Financial to support JustFund’s next stage of growth and goal of delivering real-world impact, while also providing a strong credit investment opportunity for our clients."
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