A BASINGSTOKE business has secured more than £1m in funding to secure their ambitious plans. 

RazorSecure Limited, a railway cyber security firm, has received £1.3m to support them becoming the leading supplier of rail cyber security products in the UK and across the globe.

The funding from Frontier Development Capital (FDC) will create at least 67 new jobs in the UK and help the business expand. 

Alex Cowan, CEO and founder of RazorSecure Ltd expressed how grateful the company was for FDC's support, including a previous loan in 2018 which was crucial for "growth and development of the business". 

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He added: "This additional support will help us to extend the reach of our cyber security products across the global rail market by enabling the continued investment in staff and product development.”

Founded in 2014, RazorSecure has worked alongside operators such as Northern Trains and West Midlands Trains. 

Through FDC's Advanced Manufacturing Supply Chain Initiative (AMSCI) Recycled Fund they aim to provide loan investment to help increase growth potential and create jobs. 

Jack Glonek, investment director at Frontier Development Capital, said: “FDC is looking forward to continuing its work with RazorSecure, and after seeing them grow over the last five years into a successful business, we’re happy that our support will enable further employment in such a crucial sector of the UK’s economy.”