The company, based in Prescot, Liverpool, provides a cost drafting and negotiation service to solicitors seeking to recover their costs from the defendant in litigation cases.
The investment, which comes partly from the Merseyside Special Investment Fund (MSIF), should enable the company to meet its target of £2.5m in revenues this year – with £5m cited as the target for two years time.
The company also expects to take on a further 13 staff this year taking its total workforce to 50.
CCC, set up in 2001 by Phil Hodgkinson, has an impressive client base that includes some of the UK’s largest solicitors’ practices.
The overall package worth £50,000 included a loan from MSIF’s Small Firms Fund and support from Barclays Bank.
Hodgkinson said: “In recent years, changes in the law mean that claiming for costs is extremely complex.
“Before costs are paid, a detailed summary must be provided to the defendants and many solicitors are not adequately experienced in this area.
“The cash from MSIF was crucial to allow us to grow the business further. We have already taken on four new staff this month.”
© Crimson Business Ltd. 2007
