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Shieldpay

Can a tech-forward escrow and verified payments platform become the standard legal payments infrastructure for law firms and professional services handling complex, high-value multi-party transactions?

Founded2016
HQLondon, United Kingdom (principal); Altrincham, Cheshire (registered)
Total raised$34M+
Latest roundSeries A, December 2021
IndustryInfrastructure / Payments
The story

Founded in 2016 as part of fintech group SPG, Shieldpay set out to modernise the traditional escrow and secure payments process for parties who don't know each other. The platform grew from consumer/marketplace escrow into a dedicated legal payments infrastructure business, serving UK law firms with KYC/AML-verified payment workflows for M&A transactions, litigation settlements, and complex multi-party distributions. By 2021 the group had also launched Paycast targeting e-commerce and marketplace verticals. Shieldpay now positions itself as the UK's leading legal payments platform, having processed £18bn+ for 40+ of the UK's top 100 law firms, with cross-border paying agent capability across 86+ jurisdictions.

Last 12 months
2024-12
Product timeline
2016
SPG (parent group) founded to modernise and simplify the traditional escrow payment process for high-value transactions.· pivot
2021
SPG raises $34M Series A to accelerate Shieldpay (legal payments) and Paycast (e-commerce/marketplace escrow) products after 340% revenue growth.· banking
2024
Shieldpay obtains ISO 27001 certification in December 2024, demonstrating enterprise-grade information security management.· pivot
Regulated entities
EMI / Payment Institution
UK FCA
Shieldpay Ltd (company no 10061792)
The stack
Payments / PSP
Shieldpay Payment Account Service (self-operated)
FX & payouts
Western Union Business Solutions (WUBS)
Accounting gap: minor