So Protect Me (United Kingdom) - Nov 2007

unquote
01 November 2007

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Merseyside Special Investment Fund’s (MSIF) Liverpool Seed Fund has invested £200,000 in card protection software developer So Protect Me. The deal was sourced through MSIF subsidiary Liverpool Ventures, which helps early-stage businesses reach a sufficient investment standard, following a direct approach by the company. The new capital will be used in the commercialisation of So Protect Me’s new product, targeted at high street retailers, with a provision for marketing expenses.

Company

So Protect Me has developed the So Protect Me Payment Blocker, which uses advanced sensing technology to prevent unauthorised credit card purchases on a PC. The product is aimed at both domestic and business users and will retail at £14.99. The investors see large-scale growth potential in this market; around seven million people are reported to have been affected by unauthorised credit card use and it is estimated that British businesses could lose around £7bn over Christmas as staff use office computers to do their gift shopping online. So Protect Me was established in 2006 and has recently relocated from Stockport to Liverpool.

People

Darren Gowling led the investment for the Liverpool Seed Fund, which has appointed Victor Kaminski as the new company chairman. Janet Butler of Liverpool Ventures advised the company throughout the transaction process. Dr Raj Curwen is the chief executive of So Protect Me.

Advisers

Company - Liverpool Ventures, Janet Butler (Corporate Finance)Equity - Weightmans, John Schorah (Legal)

Sourced from: UK & Ireland unquote" 358 (Dec 2007)