Glasgow-based SENGUARD has won the sum in the latest, and 24th, round of Scottish EDGE, which is aimed at catalysing Scotland’s innovative, high growth potential entrepreneurial talent.

The initiative is the biggest business funding competition north of the Border, is funded by parties including Sir Tom Hunter’s The Hunter Foundation, and has to date awarded more than £26 million to about 635 businesses.

SENGUARD was founded by Scottish entrepreneurs Jordan Reid and Grant McAdam after seeing the need for a product tailored to serve the technical and experiential security needs of the over 50s. It now offers user-friendly and effective cybersecurity solutions – focused on scam surveillance, account security, and privacy protection – for a subscription of just £6.99 a month.

The tech start-up said the funding boost from Scottish EDGE marks a significant milestone and will accelerate product development, expand pilot programs to cities like London, Newcastle, and Dundee, and support upcoming investment rounds in 2025 and beyond.

SENGUARD has already secured backing from organisations such as the Cyber and Fraud Centre Scotland and high-street lenders Santander, the Royal Bank of Scotland and Barclays. 

Founder and commercial director Jordan Reid said: “We are deeply honoured to receive the prestigious Scottish EDGE award. This recognition not only validates our mission to protect over-50s from the growing threat of cybercrime, but also provides us with the resources to scale our efforts and bring our innovative solution to more people across the UK.

“I am personally committed to making the internet safer for over-50s, having seen first-hand how this group can be vulnerable to online scams, causing significant anxiety to them and to their families. It’s not because the over 50s are incompetent – far from it, many are incredibly tech savvy – however, they are the fastest growing demographic, and they have the vast majority of the wealth. That’s why they’re highly targeted, and that’s why something needs to be done 

“The funding will allow us to accelerate product development, expand our pilot programs, and prepare for a significant investment round in early 2025. This is a pivotal moment for us, and we’re excited to build on this momentum to create a safer online experience for older adults.”

SENGUARD notes there are 21.4m people in the UK aged 50 and above, 6.4m of whom use the internet on a daily basis, with internet usage and therefore risk set to increase.

People aged 65 and above who have fallen victim to an online scam lost an average of nearly £4,000 each, according to a study by older people’s charity Independent Age, a charity focused on improving the lives of older people in financial hardship. 

A study from Age UK published earlier this year found that the equivalent of 1.2m over 50s said fear over scams was keeping them up at night, and 8 per cent or 2.1m said it was preventing them from using smartphones. The charity also highlighted data showing that an average of four people in this age bracket in England and Wales are scammed every minute. 

Reid before founding SENGUARD co-led Ngage Technology, delivering cutting-edge solutions for organisations like the Scottish Government, Siemens, and Nestlé, with projects spanning Geneva to New York.

A former IBM specialist in Zurich, he also contributed to major IT projects for Barclays and HSBC. A University of Strathclyde graduate and recipient of the MDP Deloitte award, he is passionate about nurturing future tech talent.

Scottish EDGE, whose backers also include the Royal Bank of Scotland, the Scottish Government, Scottish Enterprise and private donors, delivers its competition twice a year, supporting winners with grants, loans, information, training, and support to help them grow their businesses, create jobs, and make a positive impact on the economy in Scotland.