Sepior
Sepior is a Denmark-based threshold cryptography company founded in 2013 that provides multi-party computation key management and secure transaction infrastructure for financial institutions, custodians, and cloud applications.
- Company typePrivate
- Founded2017
- HeadquartersAarhus, Denmark
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Sepior does
Sepior is a Denmark-based cryptography company founded in 2013 and headquartered in Aarhus that develops threshold cryptography solutions for securing financial transactions and cloud applications. The company's core technology uses multi-party computation (MPC) and threshold signature schemes to split cryptographic keys across multiple parties so that no single party ever holds a complete private key — a model designed to eliminate single points of failure in digital asset custody, key management, and transaction signing workflows. This architecture is suited to exchanges, custodians, banks, and fintechs handling digital assets, where key compromise has historically been the dominant attack vector.
The company was co-founded by Ivan Damgård, a prominent cryptographer widely credited as co-creator of the ElGamal public-key cryptosystem, alongside Jakob Pagter (CTO and co-founder). Ahmet Tuncay serves as CEO and Chairman. Sepior operates as a privately held for-profit company with a workforce in the 11–50 range. Across four disclosed funding events between 2013 and 2018, the company raised approximately $14.48 million in aggregate, including a $12 million Series A in December 2018 led by SBI Group, prior non-dilutive grants from the European Union and EISMEA totaling roughly $2.48 million, and seed capital from DTU Innovation and Seed Capital. Named customers, public pricing, contract structures, and revenue figures are not disclosed in the available input.
Sepior's stated go-to-market targets enterprise financial institutions and digital asset service providers that need cryptographic key management at institutional standards, with stated reach extending to broader cloud application security use cases. However, the absence of named customers, public pricing, and revenue mechanics in the available data leaves the commercial specifics of the business largely opaque, and no product launch cadence or customer wins are documented post-2018.
Sepior firmographics
Firmographics- Name
- Sepior
- Legal name
- Blockdaemon Inc.
- Website
- https://sepior.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Sepior is a Denmark-based threshold cryptography company founded in 2013 that provides multi-party computation key management and secure transaction infrastructure for financial institutions, custodians, and cloud applications.
- Ownership category
- akta.pro rank
Sepior industry classification
Industry- Product category
- Blockchain Security Software
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Institutional Qualified Custody (Banks/Trust Companies) (FSADACAA)
- akta.pro secondary industries
- Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG), Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG), Regulatory Reporting, Tax & Audit Trails (reconciliation, provenance) (FSAPAJAI)
Keywords
Where Sepior is headquartered
LocationHeadquarters
- HQ city
- Aarhus
- HQ country
- Denmark
- HQ region
- Europe
Markets served
Sepior business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Infrastructure Services: Managed blockchain infrastructure services including node clusters, validators, and RPC endpoints delivered as a service with subscription-based pricing
- Transaction Services (Custody):
- Staking & Earn Services:
Go-to-market motion1 record
Distribution channels1 record
Marketing channels7 records
Sepior product offering
Product offeringCore offering
Sepior enables trust for financial transactions and cloud applications using threshold cryptography. The company provides proprietary cryptographic security software that secures digital asset custody and signing workflows for financial institutions and enterprises through distributed key management instead of single-point key storage.
Product overview
Blockdaemon offers a modular digital asset infrastructure platform for financial institutions, comprising Transaction Services (MPC wallets and vaults for secure custody), Data Services (blockchain APIs, indexing, and event streaming), Infrastructure Services (managed nodes and validators), and Staking & Earn (yield generation through staking and DeFi). The core products include Institutional Vault and Builder Vault (MPC wallet solutions), RPC API and Data Indexer (data access), Node Clusters (infrastructure), and Earn Stack/Earn Widget (yield generation). These products integrate through a unified Control Plane with policy engine, MPC Signer, and Gas Station capabilities, serving 400+ institutions across 70+ protocols.
Differentiator
Problem solved
Functional benefit
Brands
- Institutional Vault: Self-hosted MPC wallet for institutional hot and cold storage
- Builder Vault
- Enterprise KMS
- Earn Stack
- RPC API
- Data Indexer
- Chain Watch
- Liquid Staking
- Tokenization
Quantifiable outcome
- $110B+ in assets secured across 400+ institutions
- +1 more outcomes
Companies that use Sepior
Customer profileNamed customers22 records
Segments5 records
Ideal customer profiles1 record
Sepior technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Sepior partnerships and signals
Strategic signalScale indicators3 records
Recent moves4 records
Expansion highlights2 records
Sepior competitors and assessment
Company assessmentBroad incumbents
- Coinbase: Largest US-regulated crypto exchange with an institutional Coinbase Prime custody, trading and staking stack. Competes for the same institutional segment but from a broader, exchange-anchored platform; also a disclosed Sepior customer.
- Fidelity Digital Assets: Enterprise crypto custody and trade execution arm of Fidelity, serving hedge funds, family offices and corporates. Competes for the same institutional custody mandates; Fidelity is also a disclosed Sepior customer.
Emerging players
- Ledger Enterprise: Enterprise-grade division of hardware-wallet maker Ledger, offering institutional self-custody and asset management built on secure-element hardware. Competes for institutional custody demand with a hardware-rooted rather than MPC-pure architecture.
Direct peers
- Hex Trust: Asia-headquartered digital asset custodian providing qualified custody, staking and DeFi access to banks, asset managers and corporates — highly comparable product mix and target segment, with a different geographic footprint.
- BitGo: Long-standing institutional digital asset custodian and wallet provider offering qualified custody, staking and trading integration. Competes head-on with Sepior for bank and asset-manager custody mandates and is also a disclosed customer.
- Fireblocks: Direct MPC-based institutional custody and wallet infrastructure competitor serving banks, exchanges and asset managers with a broadly overlapping product surface (wallets, staking, DeFi, tokenization). Fireblocks is also listed as a Sepior/Blockdaemon customer, intensifying the comparison.
- Cobo: Global digital asset custody and wallet infrastructure provider serving exchanges, asset managers and Web3 platforms with custodial, MPC and DeFi yield products — directly comparable technology stack and customer base, with strong APAC presence.
- Anchorage Digital: Federally chartered digital asset bank providing institutional custody, staking and on-chain services. Targets the same Tier-1 bank and asset-manager buyer as Sepior and is also disclosed as a customer.
- Gemini: US-regulated crypto exchange and qualified custodian with an institutional custody product line. Targets the same institutional and high-net-worth buyer as Sepior, with overlapping staking and tokenization offerings.
- Zodia Custody: Institutional digital asset custodian backed by Standard Chartered and SBI Group (the same SBI that led Sepior's Series A), offering qualified custody for banks and asset managers in Europe and Asia — a near-mirror target customer profile.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks7 records
Key highlights7 records
Customer concentration
Sepior social profiles
Digital presenceSepior compliance and trust
Trust signalCompliance3 records
Sepior financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sepior leadership team
Management profileNumber of profiles
Profiles3 records
Sepior funding detail
Funding detailFunding overview
Funding rounds4 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sepior M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sepior
What does Sepior do?
Sepior enables trust for financial transactions and cloud applications using threshold cryptography. The company provides proprietary cryptographic security software that secures digital asset custody and signing workflows for financial institutions and enterprises through distributed key management instead of single-point key storage.
Is Sepior a public or private company?
Sepior is a private company. It is classified as venture growth investor backed and is currently operating.
When was Sepior founded?
Sepior was founded in 2017. It employs 11 to 50 people.
Where is Sepior based?
Sepior is headquartered in Aarhus, Denmark, in the Europe region.
How does Sepior make money?
Three revenue lines are on record. Infrastructure Services are the primary driver. The others are transaction Services (Custody) and staking & Earn Services.
Who are Sepior's main competitors?
Broad incumbents on record are Coinbase and Fidelity Digital Assets. Ledger Enterprise is listed as an emerging player. Direct peers are Hex Trust, BitGo, Fireblocks, Cobo, Anchorage Digital, Gemini and Zodia Custody.
Does Sepior have an API?
Yes. Blockdaemon offers multiple APIs including REST APIs for blockchain infrastructure access. Available API products include RPC API (production-ready RPC endpoints for high-volume applications), Wallet Transact API, Chain Watch API, Reporting API, DeFi API, and Staking APIs for programmatic access to staking across leading protocols. Documentation is available at docs.blockdaemon.com with dedicated documentation for Institutional Vault, Builder Vault, and DeFi API. Developer documentation is at docs.blockdaemon.com.
What industry is Sepior in?
Sepior's product category is Blockchain Security Software. Its primary akta.pro industry code is FSADACAA, Institutional Qualified Custody (Banks/Trust Companies), with a secondary code of FSADAAAG, Crypto Custody & Exchange Wallet Services (Integrated). Its NAICS code is 522320 and its SIC code is 6199.