So Protect Me backed for £200,000

A software company that has developed a product that can prevent online credit card misuse has received £200,000 of funding.

So Protect Me Ltd has been backed by the Liverpool Seed Fund (LSF) following the creation of software which stops credit cards details being used on a PC.

“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,” said chief executive Dr Raj Curwen.

The product is available for both home and business users and the company believes there’s a big market for it as unauthorised credit card use affects seven million people in the UK each year.

It is also estimated that British businesses could lose around £7bn as staff go Christmas shopping online, the company says.

Darren Gowling, investment director at the LSF, 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.”

As a result of the deal the Liverpool-based company has appointed the highly experienced Victor Kaminski as its chairman.

The company was advised on the deal by Janet Butler, a business consultant at Liverpool Ventures.