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RFS invests in cyber security firm

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Oz AlasheOz AlasheCyber security awareness software innovator, CybSafe, has received investment from RFS – the Swindon-based regulatory, resource and complaint handling consultancy - to support the business as it continues to develop its revenues and refine its product offering.

Every day hundreds of organisations fall victim to cyber-attacks, and whilst most businesses focus their defences on technology and processes, fewer recognise the importance of, or actively address, the human element.

CybSafe provides ahead-of-the-curve software to help organisations take an intelligent approach to cyber and information security awareness by educating employees with an intuitive elearning package.

The CybSafe package learns individual knowledge levels, behaviour patterns and the ever-evolving techniques of cyber criminals, and applies this understanding to ensure CybSafe users are better protected online.

It also enables businesses to better understand and visualise this aspect of cyber security risk within their supply chain.

RFS specialises in helping businesses under regulation within the financial services and utilities sectors.

With an in-depth regulatory knowledge, operational expertise and specialist associates; RFS delivers support in Outcome Testing, Remediation, Financial Crime, Root Cause Analysis and Conduct Risk – offering solutions to alleviate regulatory pressure for clients and their customers.

This minority stake investment in CybSafe complements RFS’ fast-growing financial crime arm and the services provided by CCAS, a RFS subsidiary offering consumer credit advisory services.

Michael Couzens, managing director of RFS, said: “We are delighted to have made an equity investment in CybSafe.

“As organisations and regulators alike grapple with the constant threat of cyber-attacks, CybSafe provides a proprietary technological platform with a strong person-to-person focus.

“We are very much looking forward to working with the fantastic team at CybSafe to further solidify their unique position in the market, and to help our clients protect and educate their workforce.”

Oz Alashe, CEO of CybSafe, added: “We are very pleased with the dedication and support we received from Shaw & Co and Thrings in helping us to secure investment from RFS.

“Their work negotiating the best deal for us has been exemplary. Alongside an exciting investment, RFS brings a wealth of experience and revenue opportunities for CybSafe.”

Nathan Morgan, director at Bristol-based corporate finance boutique, Shaw & Co, said: “We are delighted to have worked with Oz and the team at CybSafe in securing this investment and look forward to seeing the business grow over the next few years in this important and rapidly developing space.”

CybSafe received ongoing legal advice from the South West company commercial team at regional law firm Thrings. Led by partner Kate Westbrook, and supported by partners Mike Tomlin and Alex Pyatt, and associate solicitor Sarah Ellis, Thrings completed the investment on behalf of CybSafe.

Kate Westbrook said: “Having provided commercial legal advice for CybSafe since its inception, Thrings is really excited to have helped the business in the next stage of its growth.

“Thrings and Shaw & Co worked together extremely closely to complete this transaction which reflects and rewards the ceaseless effort CybSafe injects into its business.”

RFS was represented by Charlotte Forbes, head of legal and governance.