Banking can be quite annoying for small businesses. Setting up a bank account can valuable take time and banks usually charge a lot more to their business account holders than to private clients. The Finnish Holvi plans to change this and profiles itself as the bank for small businesses inside the EU. It’s ready to accept new accounts in Germany, Austria and Finland. Businesses in other countries can sign up as well but have to accept incomplete translations. Holvi means vault in Finnish.
Vision: online banking for small businesses
The vision is quite extended. Here’s a significant part of it:
There are around 40 million small business owners in Europe. The micro business segment is the fastest growing macro segment in Europe. Holvi is built from the ground up for these customers – Europe’s largest underserved sector. One thing they all have in common is that every small business needs a bank account, and financial tools to take care of their business. This is what traditional banks are not offering and we are enabling the bank account to solve the financial administration and integration seamlessly for them.