Cyber risk solutions provider SafeOnLine has received £2m investment from a venture capital consortium led by Catalyst Fund Management & Research.

The deal gives Catalyst an initial 39% equity and will help consolidate SafeOnLine's position in the field of cyber risk insurance that protects ebusinesses and their customers.

Lloyd's broker RK Harrison Insurance Brokers has also taken a 10% stake.

SafeOnLine was established in mid 1999 and is a developer of bespoke policies for ebusiness, underwritten by various syndicates in the Lloyd's and companies insurance markets.

SafeOnLine founder Chris Cotterell said: "We are pioneering the creation of einsurance and have unique and proven products to verify and indemnify both ebusinesses and the consumer."