Sirin Labs are opening a flagship store in Mayfair to showcase their new ultra secure and ultra expensive smartphone.

One of the trends driving - and worrying - the startup community at the moment is security. In the wake of Wikileaks, it's become apparent that keeping sensitive information safe is big business. 

It's been reported that the Israeli start-up company Sirin Labs are launching a new ultra expensive and ultra exclusive smartphone for executives who are paranoid about safety. Here are the four facts you should know about it.

1. Born of necessity

Reuters reported that the idea for the start-up came after Rakishev's phone was hacked in 2013. He asked Hogeg why he couldn't find a mobile phone that would guarantee privacy and how to implement the new technology seen in tech shows and publications in consumer devices.

"There were no good solutions that combined high-end technologies with maximum security," Hogeg said.

2. Big guns behind it

The Evening Standard reported that its development has been led by Fredrik Oijer, who was formerly the product director of Sony Mobile. He's been given a cool $72 million to develop the phone by co-founder and president Moshe Hogeg, who's the entrepreneur behind social-media app Mobli. Other funders include the chairman Kazakh businessman Kenges Rakishev, as well as the Chinese internet company Renren.

3. It's a bargain

It will retail for around $20,000 (13,854.5 pounds). That's peanuts apparently. Apple's iPhone 5 Black Diamond sold for $15.3 million. 

4. Coming to a store near you

If you are tempted by what might be an absolute bargain, you'll be able to get your hands on one at the flagship store in Mayfair. They plan to launch at the end of May.

If someone ever does manage to hack the phone's system, will this prove an even bigger leak than the Panama Papers?

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