ESquare invests in Bold Security Technology to accelerate European growth

September 2023

Bold Secures a Significant Investment from ESquare Capital Partners to Accelerate European Expansion

Utrecht, Netherlands, September 29, 2023 – Bold Security Technology, the European innovator in keyless smart lock technology, is pleased to announce today a significant investment from ESquare Capital Partners. This investment kicks off the next growth phase aimed at accelerating Bold’s footprint across Europe, particularly in enhancing professional use of its plug-and-play solution in property management for multi-tenant offices, vacation homes, and other markets to manage flexible and secure access remotely with substantial cost savings, increased flexibility, and control as a result. The solution includes a subscription-based service offering that facilitates extensive digital key management.

The capital injection will be channeled towards seizing growth opportunities and driving continuous innovation in Bold’s product lineup. The investment comes at a pivotal time as Bold is rapidly building a multi-million community of satisfied users, making access to residential and commercial spaces safer, more comfortable and more convenient.

“ESquare Capital Partners launched their second investment fund earlier this year, with a strong focus on smart hardware, choosing Bold as its first investment in its second fund, which is a testament to the innovation and value we bring to our users in both residential and professional sectors” said Hans van Nikkelen Kuijper, CEO of Bold. “With ESquare Capital Partners’s backing, we are well positioned to accelerate our European growth. ESquare joins our early-stage investor Reggeborgh Technology with which we have laid the foundation for our ambition to create safe, comfortable access to residential, professional, and leisure environments while offering scalable digital key management solutions to businesses and strategic partners.”

Bob Rottinghuis, Managing Partner at ESquare Capital Partners added: “we are investing in Bold with our second fund called ‘Smartware’, focused on smart hardware, and are delighted to join Bold’s top management team with early investor Reggeborgh Technology as a strong partner and co-investor to accelerate Bold’s international expansion and success in the coming years”. Bold’s ambitious vision aligns seamlessly with ESquare Capital Partners’s new smart hardware-focused investment fund, reflecting a shared commitment to propelling smart, secure and intuitive hardware solutions, combined with software and value added services.

The new investment enables Bold to further enhance its offerings and customer-centric approach, particularly in the professional sector, reinforcing its brand promise of delivering unparalleled ease and security in keyless access solutions. This investment enables Bold’s accelerated growth and strengthens its brand positioning as the go-to provider for keyless access to residential and professional environments across Europe, with a scalable subscription service for comprehensive digital key management.

Bold has seen strong growth and strong customer feedback with its innovative smart lock technology, boasting a 4.5-star rating across multiple platforms and an ever-growing community of satisfied users. Its emphasis on creating a keyless community resonates well with its target demographic and shows a promising outlook for its accelerated growth phase.

About Bold:

The Dutch company Bold Security Technology B.V., founded in 2016 offers the Bold smart lock, a retrofit product that easily replaces standard door cylinders in homes and professional locations. Known for its plug-and-play installation, the Bold smart lock eliminates the need for physical keys, offering seamless access through a mobile app or smartwatch. With a suite of features including auto-activation, 3-star SKG burglar protection, remote activation, Click n Go and a robust battery life, Bold stands as a vanguard of keyless security solutions in Europe. For professional use, an access management portal is offered to manage access from any location in a digital way.

About ESquare Capital Partners:

ESquare was founded in 2022 as a Dutch entrepreneurial Private Equity firm investing the capital of its founding partners and that of a rapidly expanding network of successful entrepreneurs and family offices in internationally active fast-growing and profitable technology companies. The team is crazy about tech, deeply values long term relationships and loves to build great technology companies together with ambitious, passionate entrepreneurs and management teams. With its first fund focused on software-as-a-service (SaaS) companies and Warehouse Technology, its second fund aims to build a portfolio of scalable technology companies active in smart hardware (IoT, high-tech and robotics) with their base in the Benelux or Germany.

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