Denmark-based Uniqkey secures €5.3M to become the employees’ digital security guard

Hovedstaden-based Uniqkey, a company that offers password and access management solution, has raised €5.35M in funding to expand its cybersecurity solution across Europe, helping companies become more resilient to cyber-attacks and data theft.

According to a statement from Uniqkey, rising geopolitical tensions and decades of underinvestment in digital infrastructure have left Europe dependent on foreign technology, threatening its digital sovereignty. Uniqkey aims to bolster Europe’s digital independence.

Investors supporting Uniqkey

The round was led by Swedish VC BackingMinds, with contributions from industry veterans including Jesper Zerlang (former CEO of Logpoint), Lars Ankjer, Otto Krabbe, Rolf Bladt, and several notable angels and key employees.

Susanne Najafi, Founding Partner at BackingMinds, says, “At BackingMinds, we invest in what we call blind spots – overlooked areas with great potential. With less than 1 per cent of all founders in Cyber security being immigrants and with only 2 per cent of all Cyber security startups coming from the Nordics, Uniqkey stands out as a hidden gem.”

Sara Wimmercranz, Founding Partner at BackingMinds, adds, “After tracking 500+ cybersecurity startups across Europe, it was clear that Uniqkey stood out. We have been impressed by Hakan, the company’s management team, their technical expertise and are very happy to support them in their mission to protect Europe from the growing cyber threat.”

Aiming to become the go-to security solution

Companies often underestimate the threat of cyber-attacks, which can devastate their operations, especially as digital footprints grow with remote work. 

Uniqkey’s military-grade cybersecurity solution addresses this by offering encrypted password protection directly to employees, significantly enhancing security. 

By requiring a mobile app for system logins—similar to national ID apps used for banking—Uniqkey ensures high-level encryption and eliminates the need for users to remember passwords, mitigating the risk of data theft and cyber-attacks.

Hakan Yagci, CEO and founder of Uniqkey, says, “Today, everybody’s got a mobile phone. Mobile phones have become an essential way we access our everyday life online. That is exactly why we’ve made the mobile phone central to Uniqkey’s security solution, and a big part of why we’re seeing great demand for our solution.”

“In the same fashion, as mobile apps have changed the way we send money instantly or access our bank accounts, Uniqkey will change the way we access systems internally within the company – easy, fast and secure.”

Uniqkey aims to evolve beyond password protection to become a complete digital security guard for employees, focusing on education and enhancing cyber awareness across organisations. 

The company looks to bolster the security of European citizens and companies against cyberattacks.

Capital utilisation

Hakan Yagci, CEO and founder of Uniqkey, says, “Today we protect 500+ SMEs across Europe and we’ve seen great demand for our cyber security solution, having grown 100 per cent YoY over the past two years.”

“We can really feel the pull in the market and want to keep investing in growth and product. With the investment, we invest in continued growth and keep up with the latest safety standards.”

Simon Cederstråhle Hellstrøm-Melander, CMO of Uniqkey, adds, “This new funding will help accelerate the way we scale our technology to thousands of companies across Europe in the coming years. Protecting SMEs is at the heart of what we do and hopefully, we can play an important part in Europe’s rising cyber landscape.”

Brief about Uniqkey

Founded by Danish entrepreneur Hakan Yagci, Uniqkey emerged from the need to balance cybersecurity with usability. Initially developed to secure his previous company, Uniqkey has evolved into a solution addressing major security challenges. 

The company now provides a password and access management system, delivering military-grade security with convenience for IT and employees alike.

Yagci launched the company after encountering challenges with cybersecurity solutions in his prior role. Following his departure from OrderYoyo, which was IPO’d in 2021, Yagci founded Uniqkey, built a team, and grew the company to 50 employees.