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- Level
Level Funding, Investors & Competitors
Level has raised $142M across 2 funding rounds, most recently a $136M undisclosed-stage round in March 2025.
Last Level funding round
$136M
Undisclosed stage · Mar 2025
Cumulative funding Level raised
$142M
across 2 funding rounds
Key investors in Level
Capricorn Capital Partners
Kendal Capital
About Level
London-based Level is a litigation funding firm specializing in probate disputes and family law cases in the United Kingdom. The company advances funds for legal fees against future settlements in inheritance and trust battles. Level assesses cases through non-recourse financing models and has supported claims in the High Court of Justice. Operating since 2020, it serves clients seeking early access to estates valued over £100,000.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services
Sectors
Level Funding History
Level has raised a total of $142M across 2 funding rounds.
Level's first fundraising round was a $6M Series A in May 2024. The most recent completed round was a $136M undisclosed-stage round in March 2025.
Level funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2025 | Undisclosed stage | Capricorn Capital Partners (lead) | $136M | Level is an FCA-regulated non-bank lender specializing in probate, family law, and private client sectors, providing funding to clients facing delays in probate or family law proceedings. Since its 2017 launch, it has delivered over £175 million in funding to more than 1,650 clients. Level also appointed Harvey Bowman as Finance Director in January 2024. The company raised £105 million in March 2025, comprising equity from Capricorn Capital Partners and a senior secured facility from Pollen Street Capital, with Capricorn as the lead equity investor. Capricorn's Robert Gottlieb and Ricardo Delgado joined Level’s board of advisers as part of the transaction. Capricorn Capital Partners classified this as a Private Equity - II investment in Level on March 24, 2025. Level's lending book grew 71% over the past financial year prior to the raise, positioning it for strong expansion amid rising demand driven by probate delays, increasing inheritance tax bills (projected to reach £10 billion by 2029), and cost-of-living pressures. The funding supports continued growth in serving these underserved markets, with investors citing the probate and family law lending space's significant potential. The deal aligns with Capricorn's focus on compelling opportunities in growing markets. |
| May 2024 | Series A | Kendal Capital (lead) | $6M | - |
Who has invested in Level?
2 investors have backed Level across its funding rounds, including Capricorn Capital Partners and Kendal Capital.
Lead investors include Capricorn Capital Partners and Kendal Capital.
Level Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialLevel Competitors
Level competitors include listed companies like Bajaj Finance, Tata Capital, Mitsubishi HC Capital and Muthoot Finance, and private ones like JD Digits and Creditas Financial.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $5.2B | $2.7B | $66B | 16.6x | ||
| Private | - | - | $18B | - | ||
| Publicly listed | $3.1B | $759M | $15B | 20.8x | ||
| Publicly listed | $14B | $4.2B | $13B | 5.0x | ||
| Publicly listed | $2.1B | $1.4B | $12B | 13.5x | ||
| Private | $200M | - | $4.8B | 24.0x |
Level Public Comps
Level is still privately-owned, but its public comps include Bajaj Finance, Tata Capital, Mitsubishi HC Capital, Muthoot Finance, Aditya Birla Capital, Chailease Holding, Credit Acceptance, Blue Owl Capital Corp., Piramal Finance and Mahindra Finance.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $5.2B | $2.7B | 19.8x | 16.6x | 37.3x | 29.7x | |||
| $3.1B | $759M | 12.2x | 20.8x | 49.8x | - | |||
| $14B | $4.2B | 5.0x | 5.0x | 17.2x | 20.9x | |||
| $2.1B | $1.4B | 12.3x | 13.5x | 19.1x | 18.4x | |||
| $4.8B | $1.8B | 6.2x | 29.8x | 16.5x | 40.5x | |||
| $707M | ($1.1B) | 34.4x | 7.8x | (21.2x) | 19.6x | |||
| $2.3B | $565M | 5.4x | 5.7x | 22.0x | - | |||
| $1.7B | - | 7.9x | 8.1x | - | - | |||
This data is available for Pro users. Sign up to see all Level competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Level
| When was Level founded? | Level was founded in 2016. |
| Where is Level headquartered? | Level is headquartered in London, United Kingdom. |
| Is Level publicly listed? | No, Level is a private, VC-backed company. |
| How much funding has Level raised? | Level has raised $142M across 2 funding rounds. |
| What was Level's last funding round? | Level's last funding round was a $136M undisclosed-stage round in March 2025, led by Capricorn Capital Partners. |
| Who are Level's investors? | Level's investors include Capricorn Capital Partners and Kendal Capital. |
| Which companies are comparable to Level? | Companies comparable to Level include Bajaj Finance, JD Digits, Tata Capital, Mitsubishi HC Capital, Muthoot Finance and Creditas Financial. |
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