Litigation funding for group actions rose to a record £2.2 billion last year, as the popularity of the measure continues to climb in the U.K. and Europe.

The figure is an 11% increase on the previous year, according to research by RPC released on Monday. Litigation funders, which typically cover group action legal costs in exchange for a share of any damages or settlements that are won, have almost doubled their assets over the last three years, from £1.3 billion in 2017/18.