ECSC Group secures £1.5m loan as it looks to boost growth
Cyber security service provider ECSC Group has secured a loan of £1.5m from the alternative lender BOOST&Co. The funds will be used primarily for growth and working capital.
The Bradford-based firm was founded more than 20 years ago and supports its clients by detecting and protecting against potential breaches and by providing an incident response service if a breach were to occur.
BOOST&Co has chosen to work with ECSC as the group is a well-established cyber security provider with extensive industry experience and expertise. 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. It has funded more than £500m across more than 130 deals to date and provided close to £200m under the government’s CBILS initiative to support SMEs during Covid-19.
Ryan Sorby, Head of the North and Scotland at BOOST&Co, says “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, says: “BOOST&Co has provided additional funding to support the group’s overall organic growth plans and 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 further cement 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.