Luxembourg’s Passbolt raises €7.6M to expand its open-source password management platform for teams

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Luxembourg-based Passbolt, an open-source password and credential manager for teams, announced that it has secured $8M (approximately €7.65M) in a Series A round of funding.

The funds will accelerate Passbolt’s mission to empower millions of digital teams to collaborate securely with their passwords, accesses, and secrets.

The company’s Series A round was led by Airbridge Equity Partners, with continued support from historic investors such as Expon Capital’s Digital Tech Fund, ScaleFund, Seeder, Dedicated, Bondi Capital, Carricha Capital, and LBAN.

Rick van Boekel, managing partner at Airbridge Equity Partners (Netherlands), says, “Traditional password managers and Privileged Access Management (PAM) solutions fall short for today’s cross-functional, distributed and agile teams.”

“Passbolt’s organic traction across various industries confirms the demand for a more collaborative, enterprise-grade solution, and their impressive SaaS metrics prove that Passbolt users are delighted with the solution offered.”

Passbolt also acknowledges the guidance of industry veterans Xavier Buck (co-founder of Datacenter Luxembourg) and Christophe Bianco (co-founder of Excellium Services), who have been supporters since the company’s inception.

Capital utilisation

Before this round, Passbolt was financially profitable. The investment will allow it to expand its team and accelerate the development of new features for its free community edition and paid offering.

The funds will help Passbolt grow in important areas over the next few years. First, in Product Development, the company will launch Passbolt 5 soon and continue adding new features to improve the platform. Future versions will focus on more advanced tools for managing access and security. 

In Global Expansion, the company will grow its sales and support teams to serve more customers around the world. Finally, in Security and Compliance, Passbolt will invest in meeting strict security and regulatory standards to ensure its platform remains secure for businesses.

Passbolt began as a vision for a secure and collaborative way to manage credentials and has grown into a platform used by over 40,000 organisations, including governments, defense agencies, universities, SMBs, and startups. 

With 7,000 downloads per month and nearly half a million daily active users, it addresses the need for secure password and access collaboration across teams. 

The company’s private key architecture, used for authentication and encryption since inception, is now a de facto standard for privacy-focused solutions such as blockchain systems, crypto wallets, and passkeys.

To maintain the same level of service at scale, the decision was made to raise a Series A funding round to support team growth.

What does Passbolt offer?

The way we work has changed a lot. Many companies now rely on digital tools like apps, mobile devices, and online platforms to help their teams work together, even when they’re spread across different time zones. This kind of digital collaboration is now normal.

However, traditional password managers and security tools weren’t designed for this new way of working. Companies often have to choose between simple password tools that don’t allow teams to work together easily and complex systems that aren’t flexible for modern needs.

This is where Passbolt looks to make a difference. 

Founded by Kevin Muller, Cédric Alfonsi and Remy Bertot, Passbolt is an open-source credential platform for modern teams.

It helps technical teams work together to manage privileged access to IT, software, and security systems using detailed permissions and good practices like the PoLP (Principle of Least Privilege) and JIT (Just-In-Time) access, which allows instant revocation. It also ensures the broader workforce uses strong and unique passwords, integrated with the tools they already use.

IT managers can easily track all credential access, and cross-functional teams can manage and collaborate on all types of credentials—like passwords, security codes, keys, and tokens—within one application for a cohesive experience.

Passbolt’s approach is based on three core pillars: collaboration, which enables teams to share credentials and scale operations securely; security, which ensures password sharing is protected through end-to-end encryption and a unique public-private key system; and Open Source and Free, with the Passbolt Community Edition always being free and fully functional. 

These principles guide the company’s work, from product development to internal practices.

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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