The Liverpool Seed Fund Injects £200k into Innovative Software Company

13th November 2007

A company that has produced groundbreaking software which prevents online credit card misuse has been backed by Merseyside Special Investment Fund’s Liverpool Seed Fund.

So Protect Me Limited has designed a product called the ‘So Protect Me Payment Blocker’ which stops credit cards details being used on a PC. The software, which retails at £14.99, uses advanced sensing technology to provide unique security features for both home and business users.

Unauthorised credit card use has affected around 7 million people in the UK and a string of incidents have hit the headlines recently including an internet addict who gambled away £158k on his parents cards. It is also estimated that British businesses could lose around £7bn as staff go Christmas shopping online.

The Liverpool Seed Fund has injected £200k into So Protect Me and has appointed the highly experienced Victor Kaminski as Chairman. Janet Butler, business consultant at Liverpool Ventures has advised the company throughout the funding process.

So Protect Me, which has recently relocated from Stockport and is now based at Liverpool Digital, was set up in 2006 and is run by Chief Executive, Dr Raj Curwen with his co-directors Eric Elms and Rob Hopkins.

Dr Curwen said: “The So Protect Me Payment Blocker can prevent all credit entry on a computer, or it can allow access to cards registered with the software once a user has successfully answered a security question.”

“We are currently selling the product through our website and a number of highstreet IT retailers have also expressed an interest. We are also in talks with a number of corporate clients.”

“We are thrilled to move to Liverpool which has a fantastic infrastructure for the ICT industry and the support from the Liverpool Seed Fund and Liverpool Ventures has been crucial to the business.”

Darren Gowling, investment director of the Liverpool Seed Fund said: “Online credit card fraud is a widespread problem and this company’s innovative software is a simple and effective way of preventing it. We are pleased to be supporting the business and believe it has good market potential.”

Janet Butler, business consultant with Liverpool Ventures said: “We believe there is a marketplace for this type of product and we will continue to work closely with the management team throughout the commercialisation process.”

John Schorah of Weightmans provided legal advice to the Liverpool Seed Fund.

More information about So Protect Me can be found at www.soprotectme.com

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Photo shows – Janet Butler (Liverpool Ventures) Raj Curwen and Eric Elms (So Protect Me) Rajesh Sharma (Liverpool Seed Fund)

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