Legalist, a government receivables startup, has capitalized on delays in federal payments to contractors, lending over $100 million in the first half of the year. This marks a substantial increase compared to its previous three years of operation. The surge in demand prompted Legalist to double its origination team and secure additional funding to expand its operations. Originally recognized for litigation funding, Legalist shifted towards government receivables, providing upfront cash to contractors for services rendered yet unpaid, taking a cut once the government resolves payments.
Legalist has emerged as a key player in government financing, providing over $100 million to contractors in need of immediate cash due to delayed federal payments.
The company specializes in gap financing, turning what was once a sideline in government receivables into a significant profit center amid bureaucratic upheaval.
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