Sekur Private Data Ltd. closed a private placement today, raising CA$1.61 million to fund expansion of its Swiss-hosted cybersecurity platform into new international markets. The Miami-based company issued more than 32 million units at five cents each, with company executives investing alongside outside investors.
The cybersecurity firm's fundraising comes as it pursues plans to uplist from over-the-counter trading to the Nasdaq by the end of the second quarter, part of a broader growth strategy targeting the expanding global market for secure communications.
Company officers and directors purchased 450,000 units valued at CA$20,250, demonstrating what analysts often view as management confidence in the business direction12. Each unit includes one common share and a warrant allowing holders to purchase additional shares at the same CA$0.05 price within 48 months of closing.
The company paid minimal finder's fees totaling US$4,900 and CA$3,000, along with issuing broker warrants to licensed Canadian financial institutions32.
Sekur plans to use the proceeds to market its privacy communications solutions across the United States, Europe, and Africa, while maintaining working capital for operations12. The company's suite includes encrypted email, secure messaging, and VPN services hosted entirely in Switzerland, where data protection laws prohibit unauthorized access requests.
"All user data is protected by the Swiss Federal Data Protection Act and the Swiss Federal Data Protection Ordinance, which offers some of the strongest privacy protection in the world," according to the company's LinkedIn profile3.
The fundraising follows Sekur's February announcement of plans targeting Nasdaq uplisting and market expansion1. CEO Alain Ghiai told shareholders the company selected an investment banking firm and entered final negotiations to formalize the engagement for the planned uplisting.
The company operates in a market projected to grow from $14.5 billion to $88.8 billion by 2032, driven by increasing cybersecurity threats and data privacy regulations23. Recent high-profile data breaches, including incidents affecting millions of email users, have heightened demand for secure communication platforms.
