Credit card fraud prevention
NATURE OF BUSINESS | Credit card fraud prevention |
STAGE OF DEVELOPMENT | Launch |
INVESTMENT BEING SOUGHT | £150,000 package (against milestones) of which up to £75,000 could come from a regional matched investment fund |
20% EIS TAX RELIEF POTENTIALLY AVAILABLE | Yes |
PREPARED TO HAVE MULTIPLE INVESTORS | Yes. Syndicate members welcomed |
EQUITY STAKE | Realistic |
INVESTOR PARTICIPATION | Non-exec |
MANAGERIAL SKILLS SOUGHT | Strategic. Business development. |
LOCATION | Coventry - Warwickshire region |
The company's launch products (other products are in the pipeline) have been developed with one of Europe's leading research universities and with input from other organisations concerned with product and technology development. Two international patents are pending and a third patent has been filed in the UK with supporting Design Rights. A Trade Mark has been registered for the company's brand name.
APACS, the UK trade association, has approved the technology, and the company has achieved the extremely demanding Industry Standards rigorously monitored by MasterCard, Visa and APACS in the UK. Recognition by the Royal National Institute for the Blind provides evidence of compliance with the Disability Discrimination Act.
Having successfully overcome each of these significant barriers, a trial by an internationally known retailer followed. The trial was successful - so successful that the retailer retained the units after the trial and is still using them. Now, after 4 years work on product development, compliance and test marketing, Europe's largest credit card issuer has issued a letter of intent and plans to initiate their UK roll out of the products by installations at 5 of its top merchant accounts.
Capital is sought to put the products into production, to scale up the sales/marketing push and to provide working capital. Enquiries will be welcomed from solo investors, or from investors looking to invest alongside either other private investors or alongside a professionally managed venture capital fund (which has agreed in principle to fund up to half of the amount sought).
Further information: Harry Stott, University of Warwick Science Park Limited
024 7632 3123 or capital@uwsp.co.uk