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  • Innovation
  • Players’ Strategy
  • Europe

REX: Holvi’s EUwide Ambitions


  • Holvi –Finland-based start-up behind a current account for micro-entrepreneurs– relies on their shareholder’s support, BBVA, to further reach out for Europe expansion.
  • New targeted countries:
    • Ireland
    • Italy
    • Belgium
    • France
    • Netherlands
  • In addition to their home market (Finland), Holvi already aimed for Germany and Austria.
  • Featured Services:
    • Configurable, customisable current account
    • Mastercard card
    • Tool for categorising expenses for bookkeeping
    • Aggregation service including accounting tools
    • Tool for issuing invoices
    • Card acceptance solution (with SumUp)

HOLVI: Key Figures

  • 2011: founded in Finland
  • 2016: bought out by BBVA
  • Roughly, 100 employees
  • 60% growth from 2017 to 2018
  • +40% customers in Germany since 2018
  • Customer base: 150,000 micro-businesses


  • Consolidating a pan-European footprint has become a major goal for this start-up.
  • Shedding light on BBVA’s commitment to assisting start-ups. Holvi’s expansion highlights their commitment to assisting start-ups. This banking group is also considered by the European Commission as one of the organisations doing the most to support start-ups across Europe. They were awarded a “SEP Corporate M&A award” from the Startup Europe Partnership initiative.
  • BBVA and Holvi describe their expansion goal as a way to meet small entrepreneurs’ needs, usually poorly addressed by typical banking services in Europe.


  • This ambition will, however, have to face competition on this market: entrepreneurs are already targeted by challenger banks (N26, Qonto, Shine, iBanFirst, etc.), and may rely on especially crafted offers by long-standing players including –and in France only– HSBC, La Banque Postale or Société Générale.