Investing Non-Executive Directors are required for our client in the legal sector, Mi Terms Limited, based in Hove, Sussex.

The business concept is a marketplace for legal services offering SMEs fixed and upfront fees from vetted lawyers.

The company is looking to strengthen their current Board with the appointment of up to five Non-Executive Directors to contribute to the growth of the company.  

Role No: 1147 - Technology Director

  • CTO/CPO or equivalent Executive Director experience in a growth company (plc not necessary) ideally in the B2B marketplace sector.


Role No: 1148 - Finance Director

  • CFO/FD experience in a growth company (plc not necessary) who has experience of corporate fundraising.


Role No: 1149 - Legal & Compliance Director

  • A qualified lawyer with B2B customer experience in a growth company (plc not necessary) ideally in the digital sector.


Role No: 1150 - Marketing & Sales Director

  • Experience in a growth company (plc not necessary) ideally in the B2B marketplace sector.


The Non-Executive Directors will be encouraged to become a shareholder in the company to align the incoming Non-Executives interest with that of the existing Directors who are or plan to become shareholders.

Business Concept:

  • Mi Terms Ltd is a digital marketplace for SMEs to make the process of finding and hiring a legal professional easy and straightforward.
  • Services are pre-packaged and offered at a fixed-fee basis; from employment contract reviews to commercial property lease reviews, intellectual property audits or advice on late payments.
  • The platform offers a choice of independent legal providers who choose what to offer and for how much, presenting the package in advance.


Market & Opportunity: 

  • SMEs do not instruct lawyers when they should, and lawyers lose out on £3bn of potential fees.
  • SMEs are currently only instructing solicitors for 10% of a potential 12 million SME legal matters annually.
  • SMEs are unsure of pricing; they do not know what the full fee might be and they are unsure of what the full list of services the lawyer is able to provide.
  • Lawyers avoid reaching out to SMEs.


Investment Plan: 

  • Mi Terms are currently in the process of raising £375k in a friends and family round as a steppingstone to a seed round.
    • Q1 2020 – Founders have self-funded the first year.
    • Q2 2021 - £375k will enable the business to build production; performance marketing to onboard 150 lawyers and serve 200 customers and pay for for 3 full time staff and 2 consultants (for 12 months).
    • Q2 2022 – Seed round of £1.5m+ with an indicative target pre-money valuation of £3m.


Applying for the role: 

Candidates who feel they meet the above criteria are invited to apply having first registered their CV with First Flight Non-Executive Directors (if they have not already done so – there is no charge) by using our “Apply for Role” tab for role no: 1150 and completing the application form explaining how they match the key criteria we have set out for the role.

Closing date for applications: Friday, 16th July 2021

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