Bitwards

What Bitwards does

Bitwards Oy is a Finnish private company founded in December 2016, headquartered in Espoo, that operates a cloud-based mobile access control platform branded the 'Open Access Platform.' The company converts smartphones into smart keys using patented token-based technology operating over Bluetooth (BLE) and NFC, designed to function fully offline at the door without network connectivity, cabling, or hub infrastructure. The platform is device-agnostic and integrates with smart locks from multiple manufacturers, supported by an SDK for iOS/Android apps, a REST API for booking and proptech systems, and a small (~15kB) embedded software library for lock OEMs. Its product portfolio comprises Bitwards Mobile Access (standalone offline access control), Bitwards Mobile ID (RFID-to-mobile credential conversion for legacy systems), and white-labeled offerings such as Securitas Flow.

The company serves property owners and managers, coworking and flexible workspace operators (Cospace, CatMarina, Workery+/YIT), educational institutions (University of Helsinki, Aalto University, French-Finnish School), residential and student housing operators (Ylva, Parkkihalli Mahtinokka), and short-term rental providers. Customers are acquired almost entirely through a channel-partner ecosystem rather than direct end-user sales: tier-1 security integrators (Securitas/Stanley Security, G4S, Certego) resell and white-label the platform, while lock manufacturers (Dormakaba, Südmetall, XPR Group, Flexlock) embed Bitwards technology in OEM hardware. IT integrators (ATEA) and booking-platform partners (Asio, Nexudus, Spacehub) further extend distribution.

Bitwards monetizes through three streams: monthly per-door/lock subscription fees for the cloud-managed Mobile Access service, hardware sales routed exclusively through manufacturer and reseller partners (Bitwards does not manufacture locks), and SDK/API licensing fees for hardware OEMs and software integrators. Pricing is quote-based and not publicly disclosed. The company reported approximately €500K in revenue on its last confirmed fiscal period, raised approximately €1.3M in late 2022/early 2023 from Finnish business leaders (Mikael Lilius, Johan Hammaren, Peter Ramsay) to fund international expansion, and operates with a small team of approximately 14 employees based in the Helsinki/Espoo metropolitan area.

Name

Bitwards

Legal name

Bitwards Oy

Website

https://bitwards.fi

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Bitwards is a Finnish mobile access control platform company that converts smartphones into secure smart keys via patented BLE/NFC token technology, serving property managers, coworking operators, educational institutions, and security integrators across Europe through a partner-led channel model.

Ownership category

akta.pro rank

Product category

Mobile Access Control Platform

NAICS

Security Systems Services (except Locksmiths) (561621), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

Smart Lock Software Platforms & Mobile Apps (Access Control SaaS) (HSAHAEAG)

akta.pro secondary industry

Authentication (MFA/Passwordless/Biometrics) Platforms (BPAMAEAE)

Keywords

• Mobile access control
• Smart lock technology
• Cloud-based access control
• Digital key management
• Access control platform

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Mobile Access Service Subscription: Cloud-based access control service with monthly subscription fees based on number of doors/locks. Service includes mobile applications for all smartphones, cloud management interface, and access credential distribution.
2. Hardware/Lock Sales through Partners: Bitwards does not manufacture locks but works with third-party lock manufacturers. Hardware is sold through partners and manufacturers. Lock manufacturers like Dormakaba, Südmetall, and XPR Group sell compatible smart locks.
3. SDK and API Access Licenses: Software licenses for hardware manufacturers to integrate Bitwards technology into their products. Includes documentation, support and feature updates.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Bitwards develops a cloud-based Open Access Platform for digital access control that converts smartphones into smart keys. The platform enables mobile access control via Bluetooth (BLE) and NFC using patented token-based technology, allowing smart locks to function offline without network or cabling infrastructure. Core products include Bitwards Mobile Access (standalone cloud-based access control) and Bitwards Mobile ID (digitalization of existing RFID credentials), supported by SDK and API licensing for integration into partners' hardware and applications.

Product overview

Bitwards offers a digital access control platform that converts mobile phones into smart keys. The core product portfolio consists of two main mobile access solutions: Mobile Access (standalone offline access control using token-based technology stored on the phone) and Mobile ID (RFID credential conversion for retrofitting existing access control systems). Both operate through the Open Access Platform, which is device-agnostic and works with multiple lock manufacturers' hardware. The platform is complemented by API and SDK integration tools for partners, white labeling services for security companies, and software libraries for hardware manufacturers. The system operates offline without requiring network connectivity at the door.

Differentiator

Problem solved

Functional benefit

Products and services

• Bitwards Mobile Access A fully cloud-based access control solution supporting offline smart locks and door controllers via Bluetooth (BLE) and NFC. Allows property owners and operators to manage access rights in real time and replace physical keys with smartphones.
• Bitwards Mobile ID Service that transforms existing RFID access credentials into digital mobile access credentials on users' smartphones. Enables integration of mobile access into existing legacy access control systems.
• Open Access Platform The foundational cloud-based platform technology enabling device-agnostic digital access control. Converts smartphones into smart keys and works with multiple third-party lock manufacturers (Dormakaba, Südmetall, XPR Group) through standardized APIs.
• SDK for Mobile Applications Software development kit licensed to partners to add keyless access functionality to their existing iOS or Android applications. Includes documentation, support, and feature updates.
• Software Libraries for Hardware Manufacturers Software library delivered to device manufacturers for integration into their products, enabling their smart locks and access control devices to interoperate with the Bitwards Open Access Platform.
• White Labeling Service Allows partners to customize Bitwards Mobile Access or Mobile ID with their own brand colors, logos, and visual identity, enabling white-labeled distribution of mobile access solutions.
• Securitas Flow White-labeled mobile access solution offered by Securitas Technology, based on Bitwards' Open Access Platform. Includes a Securitas-branded mobile app and cloud service for end customers.

Quantifiable outcome

• Implementation at fraction of traditional access control costs
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• DormakabacoreChannel Partner/ Reseller/ Distributor · 10 October 2023Dormakaba launched intelligent MTL lock body combining traditional mechanical lock with Bitwards smart mobile access technology. Compatible with all mechanical Nordic doors. Also sells Bitwards service alongside products.
• SüdmetallcoreChannel Partner/ Reseller/ Distributor · 10 October 2023German lock manufacturer launched smart lock body for Central and Southern European doors with mobile and RFID access. Also sells Bitwards service to customers alongside products.
• XPR GroupcoreChannel Partner/ Reseller/ Distributor · 10 October 2023European security technology manufacturer launching reader product line leveraging Bitwards mobile identification technology. Will sell Bitwards service to customers.
• Securitas (formerly Stanley Security)coreChannel Partner/ Reseller/ Distributor · 12 August 2022Securitas (formerly Stanley Security) offers Bitwards-based mobile access as 'Securitas Flow' (previously 'Stanley Flow'). Service launched in Finland with global expansion plans. Includes Securitas branded mobile app and access control cloud service.
• CertegocoreChannel Partner/ Reseller/ Distributor · 15 December 2021Certego (formerly part of Flexim Security) selected Bitwards mobile access technology to enhance smart locking solutions for properties.
• AsiocoreTechnology or IntegrationFinnish IT company providing online booking systems integrated with Bitwards for book-pay-access solutions. Integration enables automatic access rights when customers book and pay for spaces.
• Smarten SpacesminorStrategic or Co-development PartnerGlobal hybrid workplace technology provider partnering to improve workplace experience through unified access control integrated with real estate management.
• YIT (Workery+)minorChannel Partner/ Reseller/ DistributorYIT uses Bitwards smart mobile access integrated into W+ app for Workery+ smart office building. Part of YIT's Smart Building concept.
• FlexlockminorChannel Partner/ Reseller/ DistributorSwedish company acts as Bitwards reseller for cabinet and locker locks. Case study with Vasakronan coworking space.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SALTO Systems: SALTO is a European leader in electronic access control with SALTO KS, a cloud-based mobile access platform. Direct overlap with Bitwards in mobile credentials, BLE/NFC smart locks, and multi-vertical property access (coworking, hospitality, education).
• Brivo: Brivo operates a cloud-native access control platform with mobile credentials and an open API/SDK ecosystem. Closest U.S. analog to Bitwards' cloud-managed, mobile-first access offering with strong partner/reseller distribution.
• Kisi: Cloud-managed access control focused on offices and coworking with mobile credentials and an open API for integrations. Highly comparable SaaS GTM and feature set to Bitwards Mobile Access / API integrations.
• RemoteLock: Cloud-based smart lock management platform supporting multiple lock brands, marketed toward short-term rental, vacation rental, and multi-property operators. Direct overlap with Bitwards' open-platform, multi-OEM mobile access positioning.
• Latch (Latch Smart Access): Smart access platform for multifamily and commercial buildings providing mobile credentials and software-defined access. Comparable end-customer verticals (residential, commercial) and comparable mobile-first architecture.

Broad incumbents

• Assa Abloy: World's largest lock manufacturer, owner of HID (mobile access including Seos) and the acquirer of the original Flexim Security technology. Competes in mobile access across commercial and residential segments; also a structural competitor to the manufacturers Bitwards partners with.
• Dormakaba: Global access solutions provider with mobile access products and an enterprise installer base. Bitwards channel partner (Dormakaba MTL smart lock) but also a competitor at the access platform layer, especially in DACH markets.
• LenelS2 (Carrier): Enterprise OnGuard and BlueDiamond mobile credential platforms from Carrier, dominant in commercial access control. Represents the incumbent stack Bitwards competes with at mid-market and enterprise customers.

Emerging players

• Nuki Home Solutions: European smart lock provider (Austria) with mobile and Bluetooth-based access for residential and small commercial deployments. Comparable BLE-based mobile credential approach with European market overlap.
• igloohome: Smart lock and mobile access provider focused on short-term rental and property management. Comparable use cases (Airbnb/short-stay) where offline-capable PIN and mobile credential workflows matter.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UC9CDrIJVixFA7Uf_sgk2y5A/featured
• Facebookfacebook.com/bitwardsoy
• LinkedInlinkedin.com/company/bitwards

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bitwards