Foregenix, a cyber security firm specialising in payments for online retailers, has been named by The Sunday Times (of London) as one of the UK’s fastest growing SME exporters.

The company won a listing in the Sunday Times’ SME Export Track 100, after increasing its exports by 53% over the past two years.

Foregenix achieved overseas sales of £3.5m in 2016, equivalent to 67% of its total sales.

According to the Sunday Times, the success reflects the growing worldwide threat of cyber-attacks, coupled with increasingly stringent customer data protection regulations.

The newspaper says the Foregenix ‘team of globetrotting cyber-crime consultants, and its risk-reducing solutions including malware scanners, website security and payment protection software is popular with multinational clients from as far afield as Copenhagen to Cape Town to Atlanta’.

Founded in 2009, Foregenix works with clients in the payments industry, retail and e-commerce, financial services, public sector and governments.

The company is based in the UK with offices in the USA, Uruguay and South Africa and a new office opening in Mainz, Germany this year. It was the only cyber security business to feature in the SME Export Track 100 and was ranked at number 59.

Andrew Henwood, CEO of Foregenix says there has been growing demand for solutions such as FGX-Web and Serengeti in view of the increase in attacks on websites, especially ecommerce sites. Sales growth has been particularly strong in North America and is likely to continue in the year ahead, while new data privacy rules such as the EU’s General Data Protection Regulation (GDPR) are expected to help accelerate sales in Europe.