ThinCats supports cyber-security specialist with £7m facility

ThinCats has supported SentryBay Limited with a £7m growth capital facility.

The global cyber-security specialist is a privately held firm headquarted in London with offices in the USA and Australasia, with major blue-chip customers and partners globally.

The funding line – which was structured by Kash Moghul, director of regional business development (pictured above), and structured and executed by Mahesh Chordia, director of credit, both at ThinCats – will allow SentryBay to recapitalise and support its growth plans, as well as enabling early shareholders to exit.

Dave Waterson, founder and CEO at SentryBay, said that as a management team, it was excited to take the business to the next phase of growth.

“The capital facility from ThinCats is an important step in our journey.

“We have some of the biggest names using our technology globally and our solutions solve some of the key security and compliance challenges enterprises now face.

“SentryBay is now poised for significant growth, as well as extending our technology to the next level.”

Kash highlighted that the provision of stringent cyber-security solutions was more relevant in today’s market than ever before.

“SentryBay is a dynamic, high-growth business in a high-growth sector, with market-leading technology, strong recurring revenues, blue-chip global customers, an experienced management and technical team and world-beating IP.

“We were delighted to have the opportunity to work with SentryBay to structure a growth capital facility that will offer the business the freedom to continue to scale rapidly, while ensuring that control is in the hands of an experienced management team.”

Last week, ThinCats announced that it lent £112m to UK SMEs in 2018.

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