Holvi Account Fundamentally Rethinks The Payment Account
Helsinki – May 22, 2014 – Holvi, the company revolutionizing banking, today announced regulatory approval for operation in all EU countries. Piloted in Finland with excellent results, the disruptive banking service will launch in selected European countries within the next months. The expansion is fueled with 1 Million Euros of new funding and the appointment of Johan Lorenzen as the new CEO.
”Holvi changes the rules of the entire banking industry, particularly for small businesses and entrepreneurs, the segments poorest served by traditional banks,” said Johan Lorenzen, Holvi CEO. ”Holvi is the simplest way to sell online, invoice clients and keep track of finances, all in one place. Companies no longer need a separate bank account, as they can manage all their finances with a Holvi account, activated in minutes.”
Holvi is built for makers and doers, e.g. freelancers and micro-entrepreneurs. There are 19 million micro-enterprises in Europe which employ 40 million people, nearly 30% of the European workforce. Micro-enterprises provide the key driver for economic growth, innovation and employment in Europe and the segment is rapidly growing.
Holvi has utilised the Pan-European Payment Service Directive to build a bank replacement that fundamentally rethinks the concept of a bank account and the services built around it. There has already been a transformation of value chains, business models and usage patterns in telecom, media, music and retail, banking is next in line.
Strong backing for Holvi’s internationalisation
Holvi recently received €1M funding from Speedinvest, Austrian company specialised in financial technology investments for the German speaking market. Holvi is is the first Nordic investment for the company. ”We believe that the financial industry is the next big vertical being ripe for digitalisation and disruption,” says Oliver Holle, CEO of Speedinvest, “and Holvi is a leader of that movement.”
Alongside Speedinvest several key industry insiders are joining the funding round, including Stefan Klestil, who has helped grow half a dozen fintech startups across Europe and is a board member of Wirecard and Wirecard Bank. Funding is aimed to support internationalisation to three initial markets, starting from Austria. Holvi will continue to expand to all major European markets after this.
Photos and graphs for media: (Dropbox folder) http://bit.ly/1oUxkqg
Contact:
Johan Lorenzen, CEO
johan@holvi.com
tel. +45 2233 2301
www.holvi.com
About Holvi
Founded in 2011 in Helsinki, Finland, Holvi combines modern technology and user experience into banking. Holvi is a simple one-stop-shop for small businesses to collect income, manage expense and get an understandable real-time view of their company finances. New Holvi accounts can be opened in minutes online and Holvi customers don’t need a separate bank account. The company recently released Holvi Expenses iPhone app for managing expenses on the go. Holvi is regulated by the Finnish FSA.
Holvi is has been featured in the Economist and Financial Times, voted as the hottest startup in Finland by Wired Magazine and chosen to be one of most innovative and disruptive brands in financial technology by FinTechCity London. www.holvi.com
About SpeedInvest
SpeedInvest is an Austrian business angel fund that invests in web/mobile and Fintech startups based in Central Europe. Besides financial investments, SpeedInvest actively deploys its network and know-how to support its portfolio companies. SpeedInvest’s office in Silicon Valley supports portfolio companies entering the US market. www.speedinvest.com
