Does it pay to invest in Litigation Funding?
It’s been a year since the launch of Litigation Funding, one of 11Onze Recommends’ flagship products that offers returns of between 9 and 11% by financing lawsuits against banks and institutions that have used illegal practices against their clients. How has it performed so far? Are our clients satisfied? Farhaan Mir, CTO of 11Onze, gives us an update.
In the inflationary economic environment we have experienced in recent years, people have not only seen their purchasing power eroded but have also experienced a loss in the value of their savings. It is in this context that Litigation Funding that 11Onze Recommends was born, to shield the savings of our community members against runaway inflation.
Litigation Funding offers returns ranging from 9% to 11%, depending on the amount contributed, financing the legal costs of law firms pursuing claims against banks and institutions that have used illegal practices against their clients. This social justice product offers high returns at very low risk. And that’s all well and good, but have these objectives been met a year after its launch?
A unique product in the market
As a general rule, investments that offer high returns come with high risk, while low-risk investments offer more stable, but potentially lower, returns.
This is not the case with Litigation Funding, as Farhaan Mir explains, “In this case, the risk is managed by an insurance that covers the clients’ capital“. Even so, in the first year, there has been a 100% success rate in the lawsuits, and it has not been necessary to use insurance.
A recurring investment
Perhaps the metric that most exemplifies the success and good performance of Litigation Funding is that almost 100% of clients have reinvested their money in the same product. “Clients are very happy with the returns and, apart from one person who needed the money for personal matters, everyone has reinvested their capital.”
Litigation Funding has been structured exclusively for members of the 11Onze community, offering two ways to participate: a product that returns your capital and possible profits after one year, or another option where your capital works for a few years and provides you with a monthly return after six months. As Mir points out, “The longer the period, the greater the returns for investors”.
Fund lawsuits against banks. Get justice and returns on your savings above inflation thanks to the compensation the banks will have to pay. All the information about Litigation Funding can be found at 11Onze Recommends.
One of 11Onze Recommend’s star products generates high yields by financing the litigations of law firms that pursue claims from citizens who were misled by banks. You can now participate as a group, reducing the amount of capital contributed individually but keeping the percentage of the profits. Farhaan Mir, CFO of 11Onze, explains how it works.
The success of Litigation Funding comes from the concept of providing social justice while obtaining high returns with a low-risk product thanks to the insurance that covers the funds provided by the clients. Since its launch, we have been expanding its scope, while reducing the minimum amount of access capital.
From the minimum initial capital of 25,000 euros, we were able to get our provider to reduce it to 10,000 euros, making this product accessible to a larger number of people in the 11Onze community.
Obviously, the higher the amount of capital provided, the higher the returns. That is why, at the request of our community, we are now also offering the possibility of a group contribution, either among family or friends, so that the financing can be shared while maintaining the percentage of the profits.
“If you have two people who put in 25,000 euros each, this is considered a contribution of 50,000. And the two people get the benefits of the 50,000.”
Group contributions
Litigation Funding generates returns of between 9% and 11%, well above what traditional banks offer for our savings. Even so, not everyone can afford to make a capital contribution of 25,000 or 50,000 euros to obtain maximum returns. By offering the option to contribute money collectively, we multiply the benefits.
As Farhaan Mir explains, “If you have two people who put in 25,000 euros each, that’s considered a 50,000-euro contribution. And the two people get the benefits of the 50,000”. Therefore, instead of getting a return of 9%, which would correspond to 25,000 euros, you will generate profits of 10%, from a contribution of 50,000 euros.
“Any contribution against the cases we are funding is guaranteed. So we have full security for the funds we are providing to the law firm.”
Unfavourable cases covered by insurance
The success rate of the cases to which Litigation Funding has provided funds exceeds 90%. Even so, if there is an unfavourable case, the funds contributed by our clients are covered by insurance, regardless of the amount contributed.
It is therefore a low-risk product. “Any contribution against the cases we are funding is guaranteed. So we have full security for the funds we are providing to the law firm,” says Mir.
If you want to find out how to get returns on your savings with a social justice product, 11Onze recommends Litigation Funding.
11Onze Podcast launches a series of chapters to find out all about banking abuses, conversations with Arcadi Sala-Planell, Head of Legal at 11Onze. First chapter: les comissions.
“All traditional banks have jumped on the commissions’ bandwagon to make money, because banks can’t survive”, explains Sala-Planell in the first chapter of Abusos Bancaris. In several chapters, the lawyer will go through the abuses most commonly suffered by users of the banking system, in conversation with the Head of Contents of 11Onze Toni Mata.
“Banking commissions are regulated, but in practice financial institutions bypass this regulation“, says Sala-Planell, who recommends checking on the Bank of Spain’s website whether the commissions are irregular or not. “The banks abuse people because they know they won’t go to court for a commission,” says the CLO of 11Onze.
More 11Onze Podcast
In addition to the chapters on banking abuses, 11Onze Podcast will increase its content offering. It will do so with conversations on topics of interest around the world of money that will feature 11Onze agents and some of its managers.
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Cross of Sant Jordi, created and promoted Fluidra until it became an Ibex-35 company. The businessman, as far as Catalonia is concerned, has passed away at the age of 83.
The 11Onze community is mourning the death of one of its members, Joan Planes Vila. The businessman, born in Estamariu (Alt Urgell, Catalonia), is one of the best known names in the country for his role in Fluidra. He was a founder in 1969 and turned this company in the pool sector into a leading multinational with a presence in more than 45 countries.
11Onze mourns the loss of a great Catalan businessman, one of those who best represents the Catalan entrepreneurial spirit: courage, genius, humility, and love for the land.
Onze’s chairman, James Sène, commented on the news: “I woke up today mourning the departure of my dear Joan. I will never forget his advice and comfort during the most difficult periods of the birth of 11Onze. A good, discreet, humble and very intelligent man. I remember with pride and tenderness his words: You are the black Joan, and I want things to go well for you!” See you soon, master.
“I will never forget his advice and comfort during the most difficult periods of the birth of 11Onze. A good, discreet, humble and very intelligent man.”
Fluidra, first based in Sabadell and now in Sant Cugat del Vallès, is probably his best-known project due to its international impact and its presence on the Ibex-35. But the businessman also played a prominent cultural role, becoming involved as chairman of the Board of Trustees of the Fundació Privada Orquestra Simfònica del Vallès and of the Fundació Opera de Catalunya, both based in the capital of Vallès Occidental. Planes was also a member of the Board of Directors of the Catalan Choral Association and of the Barcelona Chamber of Commerce.
Today 11Onze conveys its condolences to the family and wishes Joan Planes Vila to rest in peace.
The members of our community who invested in Litigation Funding a year ago have already obtained their returns of between 9% and 11%. How was the process? Would they recommend it? Dolors Tomàs, a client of 11Onze, tells us about her experience.
It is just over a year since 11Onze Recommends launched Litigation Funding through one of our providers in the United Kingdom, offering the possibility of obtaining returns of between 9 and 11% for your money by financing the legal costs of law firms that pursue claims from citizens who were misled by banks or housing authorities.
With the capital 100% insured and a success rate on more than 90% of the litigations, the launch of this product has been a great success. But it’s one thing for us to tell you about it and another for our customers to tell you about their experience. Dolors Tomàs, a member of the 11Onze community, has invested because she trusts us and is satisfied with the results.
Social justice and high returns
For 11Onze, it is key to find feasible ways to offer socially conscious wealth creation opportunities for its community. Litigation Funding by 11Onze Recommends promises a good investment option. As James Sène, President of 11Onze explained: “Our litigation funds focus primarily on lawsuits against banks. This not only helps to deliver social justice; it also offers high returns above inflation thanks to the compensation the banks will have to pay”.
“If I found myself misled by a bank, I would not mind paying a high fee to lawyers to get justice done.”
This concept of doing social justice was one of the main reasons why Dolors decided to put her money towards Litigation Funding: “I saw that it was something that appealed to me and that was necessary. As a customer, I wouldn’t mind paying a high fee to lawyers to get a return if I was a victim of bank fraud.”
“It has worked very well. Litigation progress has been consistent through the initial formal steps by the law firm and to the point where most cases are being settled.”
How has Litigation Funding generated these profits?
Litigation Funding generates profits by funding the legal work of a law firm that focuses on lawsuits against the most delinquent municipalities and banks. As Farhaan Mir, 11Onze’s CFO, explains, “It has worked very well. The progress of litigation has been consistent through the initial formal steps by the law firm and to the point where most cases are being settled.”
“The capital is guaranteed by insurance, meaning that if the judicial process does not go as expected, and you don’t win the trial, you can get your money back”.
Dolors confirms that “everything has worked out very well” and adds that one of the reasons why she lost her fear of investing is that “the capital is guaranteed by insurance, meaning that iif the judicial process does not go as expected and you don’t win the trial, you can get your money back”. That is why 11Onze recommends this product, which is considered a unique and low-risk opportunity.
Fund lawsuits against banks. Get justice and returns on your savings above inflation thanks to the compensation the banks will have to pay. All the information about Litigation Funding can be found at 11Onze Recommends.
Litigation Funding, which 11Onze recommends, gives you returns on your savings that are much higher than those offered by traditional banks and with total security. It is not us telling you, it is our clients, such as Carme Masó.
Diversifying our savings in safe-haven assets such as precious metals or in low-risk investments that help us fight inflation is essential if we want to protect our capital.
Although bank deposits are starting to improve their returns thanks to rising interest rates, they are still not sufficient to compensate for the loss of purchasing power caused by high inflation. Similarly, over the last 15 years, investment funds in Spain have only generated an average return of 1.91%, well below inflation.
In this economic context, Litigation Funding offers yields ranging from 9% to 11% depending on the amount contributed and gives you a fixed return with a success rate of over 90%. Furthermore, it gives you total security, since the capital of 11Onze’s clients is 100% insured if the legal process does not go as planned.
“The money is insured, you never lose it, at most you’ll stay the same as you are, but you won’t lose it.”
A safe and highly profitable proposal
If we want to protect our savings, it is not easy to find a low-risk product that offers good returns. As a general rule, the higher the returns, the higher the risk.
This is not the case with Litigation Funding and this is what attracted Carme Masó: “The first thing that caught my attention was the interest they offered, fixed and much higher than other options“, and she stresses the importance of insurance, “The money is insured, you never lose it, at most you will stay the same as you are, but you will not lose it”.
A self-certified qualified investor
When you ask for information to assess whether to invest, the first step is to sign a document certifying you as a qualified investor. In other words, the investor tells the investment company or platform that he/she knows what he/she is doing and that he/she feels comfortable being informed of the risks involved in the investment.
This document does not compel you to make any investment, but it is often a legal requirement to get the information. In the case of Litigation Funding, our UK provider is obliged to comply with UK regulations. Therefore, before you can provide full details of the product, you have to fill out what is known as a Self-Certified Sophisticated Investor document.
Carme was not surprised to see this document, “I had to sign a similar one when I bought gold with 11Onze Preciosos, and they had already explained to me what it was all about“. In any case, the process is very transparent and all the documentation is translated into Catalan.
“This year the investment has finished, and they have given me the interest. The money, which I could have collected, I have invested it again in Litigation Funding.”
Would you recommend Litigation Funding?
At the request of our community, we have worked with our provider to lower the barrier to entry to Litigation Funding by offering the option to contribute money as a group, so that more members of our community can participate.
But more importantly, would clients who already have experience with this product recommend it? Masó has no doubts, “It has worked for me. “This year the investment has finished and they have given me the interest. The money, which I could have collected, I have invested it again in Litigation Funding”.
Fund lawsuits against banks. Get justice done and returns on your savings above inflation thanks to the compensation the banks will have to pay. All the information about Litigation Funding can be found at 11Onze Recommends.
Extreme weather events are becoming more and more frequent. It can rain too much or not even a drop for months. As Coral Santacruz, a chemical engineer and member of the 11Onze marketing team, argues, rational water consumption is necessary to guarantee water supply and contribute to slowing down climate change.
Rainfall in March and April is making the situation of the reservoirs in Catalonia improve “a little” after a few abnormal months in which “it has hardly rained at all.” This is what Coral Santacruz explains in a new chapter of Territori 17.
Despite this improvement, the chemical engineer and member of the 11Onze marketing team stresses that we must not forget the responsibility that each one of us has when it comes to conserving such a precious resource as water: “It is just as important that it rains, as it is that we are conscious of the way we consume that water.”
Although it is true that in Catalonia the industrial and domestic sectors “consume approximately 20% of water and the remaining 80% is consumed in the agricultural sector”, we can all do our bit to avoid wasting water at home, reasons Santacruz: “We think thato our personal consumption doesn’t have a global effect, but if everyone adopts certain habits, we can significantly help in countering climate change.”
La Plaça – Territori 17: The water crisis
The binomial of water and plastic
As the chemical engineer explains, one problem linked to water consumption is all the plastic generated by bottled water. To give us an idea of the extent of the environmental tragedy, she gives a shocking statistic: “In the last 70 years we have dumped more than 150 million tonnes of plastic into our rivers, seas and oceans.”
In fact, if we don’t put a stop to it, “there will come a time when there will be more plastic than fish in the sea.” And it should be borne in mind that “plastic takes a long time to degrade.” Moreover, these plastics can even reach our bodies because fish and other animals in the marine ecosystem “end up ingesting microplastics,” says Santacruz.
The option of filtered water
To help reduce the generation of plastics, the chemical engineer advocates replacing bottled water consumption with filtered tap water, as the filters allow “many impurities” to be eliminated. Moreover, as Coral Santacruz explains, “they retain chlorine and lime, the main impurities that cause the bad taste of tap water.”
The member of the 11Onze marketing team also stresses the impact that this saving of water and plastic has on the domestic economy thanks to the use of filters: “If we really did the calculation, we would realise how much we save per year” because of “all these bottles” of water that are no longer purchased.
The reality is that the economic factor and the environmental issue are increasingly linked. As Coral Santacruz says, “in the end everything counts, everything is related.”
If you want to discover how to drink the best water, save money and help the planet, go to 11Onze Essentials.
One of the founding objectives of 11Onze is to offer tools so that our community can reduce costs by managing their money more effectively. Some might think that this is just a marketing slogan, a nice phrase that sounds good and that’s it. Therefore, we have contacted some of our 11Onze Segurs customers to let their testimonials speak for themselves.
Offering a good product at a reasonable price is not an easy job. At 11Onze Segurs we analysed the different options provided by the home insurance market for months, as well as carrying out studies of insurance costs through surveys of members of our community who are homeowners.
The objective was clear: to be able to offer our clients the best home insurance, comparing coverage from various providers to find the best option that adapted to the particular circumstances of each one, and at a more than competitive price, from €5 per month.
But the price is not everything. From the outset, it was clear to us that we had to reduce the amount of paperwork and small print that accompanies any insurance policy. Simplicity and transparency in the scope of the cover we are taking out give us more peace of mind and avoid last-minute surprises.
“Very happy with the decision to change insurance. I’m saving €55 on my premium, which will help me cover other expenses, as everything is getting more expensive!”
The result of a job well done
The effort has been worth it, and we believe we have succeeded. At 11Onze Segurs you can take out and manage your home insurance from your mobile phone, streamlining procedures, paying a monthly or annual fee, with no permanence, between 15% and 20% cheaper than with traditional insurance companies, and without forgetting our commitment to society as a certified B Corp company.
“I save €350 a year, which I will reinvest in 11Onze!”
But it is not just us telling you, Vincenç Aguilà, from Sabadell, explains that he was clearly overpaying for his home insurance. By switching to 11Onze Segurs he saves €350 a year. And when we asked him what he intended to do with the money he saved: “Reinvest it in 11Onze!
“With the €100 I’ve saved I’ve bought a new Bluetooth speaker!”
From Roquetes, Gemma Monllau explains that she is “delighted with the decision to change insurance”, she has saved €55 in the policy fee, which will help her to cover “other expenses, as everything is getting more expensive!“. Xavier Tornos, from Terrassa, had no doubts, with the €100 he has saved by switching to 11Onze Segurs, he has bought “a new Bluetooth speaker!
If you want to discover fair insurance for your home and for society, check 11Onze Segurs.
Credit cards were created in the 1950s, and with the arrival of smartphones, virtual cards became popular. Let’s review the history of cards and their possibilities.
Sixty years ago the first payment card was introduced and, since that day, the way we shop has changed to adapt to the era of e-commerce, bringing about a radical change in the way we pay. The way we consume is constantly changing, specially with the increase in e-commerce, following the start of the Covid-19 pandemic in 2020, as can be seen in the study carried out by Kantar, which states that 3 out of every 4 Spanish households have made purchases online in 2020, and that these households will continue to shop online in 2021. Households that now shop online account for 74.4%, which has increased e-commerce consumers by 8.4% since 2017. As detailed by Kantar in its study, the remaining 26.6% of consumers are older people who commute to buy products themselves, as they prefer a personalised service. And just as the consumption model has changed, so has the payment model. Welcome to the era of virtual cards.
Which card is best for me?
What are virtual cards?
Virtual cards are more secure cards, and unlike conventional payment cards, they are completely virtual. They are exclusively used for virtual purchases, but with the possibility to be used in physical establishments if you have the card linked to a wallet on your smartphone. The virtual card has a number, an expiry date, and a control number, as Rankia details. The financial website also states that the security controls of virtual cards are very varied. Some banks have a dynamic code that changes with each purchase, while others allow very few purchases to be made, and if there is money left on the card, this money is automatically returned to the account from which the card was recharged. Each customer is free to make a new virtual card whenever they need it, it’s as simple as that.
How was the virtual card born?
Since the world’s first payment card from Diners Club in 1950, the world of payment cards has come a long way, from the arrival of credit cards in Spain in the 1960s to virtual cards, according to Finanzas. A website specialising in finance reminds us that virtual cards were born with the arrival of mobile telephony, with the payment systems known as “wallets”.
How are they regulated?
The European regulation PSD2, the new European regulation on electronic payment services, came into force in September 2018, with the aim of reinforcing security for consumers with e-commerce payment systems. With this regulation, which has been in force for three years now, it can be said that something is changing in the way we make payments. In short, we can say that virtual cards are here to stay as another means of payment.
11Onze is the community fintech of Catalonia. Open an account by downloading the app El Canut for Android or iOS and join the revolution!
The product that 11Onze Recommends continues to add satisfied and surprised customers who can achieve income of between 9% and 11% safely and, in addition, with a social purpose. “Everything went like silk, I’ll repeat”, affirms Salvador Llopis.
When 11Onze offers products to its community, its own or through a supplier, as is the case with Litigation Funding, it often receives mistrust as a response. It’s normal, “Why don’t other financial institutions offer these products with these profits if 11Onze can?”, customers may legitimately ask. The answer from 11Onze is that we have no idea what prevents banks and large financial institutions from creating products that can make their customers money and help them make a fairer world. We don’t know. But at 11Onze we try to do with absolute normality what, for others, seems impossible.
This is the case of Litigation Funding, a product that makes it possible to achieve incredible gains with savings. Between 9% and 11% depending on the contribution which, in addition, can be made in an aggregated way between several users.
The case of Salvador
Salvador Llopis, right from the start, didn’t believe it and confesses that “I was curious”. Through 11Onze, he was directed to the British provider of Litigation Funding, who provided him with all the information transparently and answered his doubts in Catalan. Once he had everything clear, he made his contribution, attracted by the profits and the social purpose of Litigation Funding. But what weighed more, the profit or the social band? “Let’s see, the profit is important, let’s stop with watermarks. But of course, if it turns out that they explain to me that this comes from manufacturing weapons… I wouldn’t have got involved at all. The function also has its importance, of course”.
“The return is important, but if they told me that this money comes from manufacturing weapons, I wouldn’t have got involved. The social function is important.”
After that, all Salvador had to do was wait and trust that everything would go well. At the outset, the high earnings of Litigation Funding surprised him: “I thought it was a scam. There are many. But no, no… everything was as they said. It went like silk,” he says. Salvador explains that he was receiving reports on a regular basis explaining the evolution of his funds and that, when the money and benefits were to be returned to him, the procedure took a few days longer than expected. “They took a little longer, due to bureaucratic issues, of course. What surprised me was that they also paid me for those days. It didn’t count, but look, a tip!”, he remembers. You can recover the entire conversation with Salvador Llopis on 11Onze TV.
The reaction of the environment
Litigation Funding tends to generate astonishment, due to that usual mistrust when something seems too good. “People don’t react too much when I explain it to them. I don’t know why. I have a positive case, which is mine. And when I can, I will repeat it, because it works”, says Salvador Llopis.
The Litigation Funding product that 11Onze Recommends is not some kind of inexplicable miracle or a scam. It is a product of financial innovation on the rise since last year. In fact, litigation funds are expected to be one of the star products in terms of investment for the next 10 years. The large amount of pending litigation, the profit margins and the social work behind it is pushing this sector hard. The only thing 11Onze has done is move forward by offering the product to its community, through a British supplier.
Finance Litigation: earnings and safety
In the case of Litigation Funding that 11Onze Recommends, the percentage of victories in these cases is over 90%. Equally, however, the funds are 100% covered by insurance, so the initial capital is guaranteed. Currently, Litigation Funding offers profits of between 9% and 11% and the minimum contribution is 10,000 euros. Of course, this contribution can be made in aggregate, that is, between several users (friends, family, colleagues…) who agree.
Fund lawsuits against banks. Get justice and returns on your savings above inflation thanks to the compensation the banks will have to pay. All the information about Litigation Funding can be found at 11Onze Recommends.
