Manchester-based tech firm Lavatech has reported a strong year-end financial performance, achieving revenue of £2.6m and a 27% boost in turnover on the back of its inCase app.
Lavatech launched the inCase app in 2013, securing a minority private equity investment of £1.5m in June 2020.
It is now targeting revenue of £3.25m for the 2023/24 financial year; growth of 25%.
Ambitious strategy
Its ambitious strategy includes further platform enhancements and new product launches, including a new payments tool allowing users to deposit funds on account for law firms. It is due to launch in Q3.
Its features allow law firms to improve speed of service, security and retention, demonstrated in the uptake of the app across the 2022/23 financial year. inCase secured 168,215 new users and recorded more than 5 million session logs across its platforms.
CEO and founder of Lavatech and the inCase platform, Sucheet Amin (pictured) is also senior partner and founder of award-winning PI firm Aequitas Legal and a former president of Manchester Law Society.
Strong financial performance
Sucheet said: “The last twelve months has been a very challenging period for business, so it’s fantastic to be able to report such a strong financial performance – we remain focused on innovation and product development, which underpins the continued take-up of the inCase app.
“We have an exciting growth strategy in place for the next year and look forward to announcing further product updates as we continue to expand the technology’s capabilities.”
