The financial services sector has seen a lot of change by way of new and innovative uses of technology, but the basic bank account has remained largely unchanged over the last few decades. Holvi has discovered the way to revolutionize banking, making it more flexible and effective than ever before.
— Just like a traditional bank account, Holvi allows users to store money and make transfers in and out of the account. In addition to an extremely simple service and interface, Holvi also allows a variety of financial tools traditionally offered by online accountancy services. But what makes Holvi truly unique is that it allows users to associate many different accounts with a Holvi profile, making it possible to manage finances separately for different projects while still maintaining an overall view of the whole process. This is not something that can be done easily through traditional banking services.
Holvi's focus is on teamwork and collaboration, and making it as simple as possible to deal with finances. Users of Holvi can set up shared accounts and start receiving payment within moments. An account can be set up for each of the team's activities, for example, and these accounts can act as separate storefronts for selling goods online, receiving donations, or fees.
"We've brought in a lot of new functionalities into the account (such as a bookkeeping engine, accepting payments, invoicing etc.) that Bank Simple does not have and our accounts are shareable, making them well suited for group activities and work." says Holvi's Head of Online Marketing, Krista Kauppinen.
The service has a very simple user interface which has been optimised for web and mobile use giving users access to their accounts at any time of the day. The service also has built in CRM to manage contacts.
Holvi plans to roll out their banking services for teams across Europe in 2013. Holvi is registered with the Financial Supervisory Authority of Finland (FIN-FSA) as a payment services provider and backed by angel investors with extensive background in financial services and technology entrepreneurship. They are also backed by Seedcamp (a European early stage investor and accelerator) and by Tekes (the Finnish agency for research and development).
Holvi has also recently pulled in another round of investment, and one of the investors is Podio's Thomas Madsen-Mygdal, who has also joined the Holvi board. The investment is intended to drive internationalization. What remains is for Holvi to find banks to partner with in each new territory.
About Holvi: Holvi is a financial services start-up based in Finland. The company was founded in Helsinki in 2011 by its three co-founders: Teemu Hukkanen, Kristoffer Lawson and Tuomas Toivonen. The founders felt that the finance sector was not developing at the same pace as the rest of the world, and they wanted to make a change. They wanted something that would allow a user to focus more on creating, and less on calculating budgets and managing accounts. Out of this perceived need came a vision for a service that is flexible, efficient and better suited for teams to collaborate and manage budgets.
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Organization: Holvi Main Vault
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