ABritish cyber security firm run by former employees of GCHQ saw its losses almost double to £3.7m in 2018, according to Companies House filings.
Ripjar, a start-up headquartered in Cheltenham and backed by British hedge fund billionaire David Harding, saw its losses for 2018 climb to £3.7m from £1.9m the previous year. Administrative expenses rose to £5.6m from £3.2m in 2017, despite a 30.6pc increase in turnover to £2.6m.
Founded in 2012 by former GCHQ employees, the company uses machine learning and artificial intelligence to analyse real-time information and protect companies and governments from threats such as money laundering and terrorism.