Cyber security consultancy secures £1.5m loan to accelerate growth plans
Cyber security service provider, ECSC Group has secured a loan of £1.5m from alternative lender BOOST&Co.
The funds will be used mainly for growth and working capital, helping to increase the group’s headcount to support clients and maintain its commitment to continually evolve its offering.
The Bradford-based business was founded more than 20 years ago. It supports its clients by detecting and protecting against potential breaches and by providing an incident response service if a breach occurs.
BOOST&Co says it has chosen to work with ECSC as the group “is a well-established cyber security provider with extensive industry experience and expertise.” It notes the business also operates in a sector with strong market drivers and has high growth potential.
BOOST&Co is a provider of growth capital for innovative, fast-growing UK SMEs.
The independent asset manager offers loans ranging from £1m to £10m, covering a wide range of sectors, with a strong track record in technology, media and telecommunications.
Ryan Sorby, head of the north and Scotland at BOOST&Co, said: “ECSC has a fantastic commitment to the sector. The team knows it exceptionally well and has invested heavily in its product, which really suits the current market demands.
“Our funding will help accelerate the firm’s growth, including additional headcount into the sales and marketing functions of the group.
“ECSC has a great track record of winning high calibre customers and our funding will enable the business to showcase its capabilities and continue this success.”
Gemma Basharan, chief financial officer at ECSC Group, added: “This funding will enable us to increase the size of our team and further establish our marketing activity.
“Ryan and the team demonstrated a thorough understanding of our business and sector throughout the entire funding process.
“This loan will support us in an exciting stage of growth and enable us to continue to provide the very best assistance to our clients, further cementing our reputation as a trusted cyber security provider to businesses of all sizes and needs.”
The advisory for this deal was provided by Damian McGann, of Funding Friends Ltd.
