Lexio Tech hails strong first year of growth following NPIF II funding
Liverpool-based legal technology specialist Lexio Tech has achieved significant growth in its first year of business after securing funding from NPIF II – River Capital & GC Business Finance Smaller Loans, which is managed by River Capital & GC Business Finance as part of the Northern Powerhouse Investment Fund II.
Founded in May 2025 by Ste Aspin and Tom Elsworthy, Lexio Tech was launched to provide specialist case management system (CMS) support and development services for law firms using platforms such as Proclaim and Actionstep. It addresses a growing demand for tailored, expert legal technology support that many firms struggle to access through traditional providers. Professional services have been identified as a key growth area within the UK’s Modern Industrial Strategy, and businesses like Lexio Tech are helping to strengthen the sector through specialist digital expertise.
Since securing funding from NPIF II, Lexio Tech has hired two additional senior developers as it supports a growing number of law firms. The funding provided the business with the working capital needed to recruit ahead of onboarding new clients, ensuring the team has the capacity in place to continue delivering high-quality support as demand increases.
Now approaching its first anniversary, the business has built a strong pipeline of retained clients alongside five major project wins, giving the business predictable recurring revenue and the confidence to continue scaling.
The company is now preparing for its next stage of expansion, including plans to recruit additional developers to support further scaling of the business. This is expected to create multiple positions over the next two years.
The business model centres around retained support services, allowing Lexio Tech to build long-term partnerships with law firms while maintaining steady and sustainable growth. The company is aiming to significantly grow its retained client base over the coming years as demand for specialist legal technology support continues to increase.
Looking further ahead, Lexio Tech also has ambitions to develop its own legal technology products as it builds on its growing market presence.
Ste Aspin, co-founder of Lexio Tech, said: “Starting a business is always challenging, especially in the first year, but the support we received through NPIF II made a huge difference during those early stages. The River Capital team has been incredibly supportive throughout our journey and it’s felt like a genuine partnership from day one, providing us with both the funding and confidence to scale at pace.
“Now approaching our first year in business, we have doubled the size of the team, built a strong client pipeline and are entering an exciting next stage of expansion. Without this support, we wouldn’t be where we are today.”
Sue Chambers, senior investment manager at River Capital said: “Lexio Tech has achieved an impressive amount in a relatively short period of time, building a strong reputation within the legal technology market and a growing client base.
“Ste and Tom identified a clear gap in the market and have combined deep technical expertise with a sustainable growth model that positions the business strongly for the future. It’s fantastic to see the progress the business has made since receiving NPIF II funding.”
Sue Barnard, senior investment manager at the British Business Bank, said: “Professional and business services are an important part of the UK’s Modern Industrial Strategy, helping to drive innovation, productivity and growth across the wider economy. Businesses like Lexio Tech demonstrate how specialist expertise and digital innovation can help modernise established sectors such as legal services, and we’re committed to supporting these businesses as they scale, innovate and contribute to regional economic growth.”
The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium-sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.