Holvi to launch freelance banking service in the UK

Holvi to launch freelance banking service in the UK

Holvi, the BBVA-backed banking service for small traders, is to launch in the UK.

Headquartered in Helsinki, Finland, the launch will see Holvi expand its European presence to Great Britain, sitting alongside its other core markets of Germany and Finland and further operating countries like Ireland, Belgium, France, Italy and the Netherlands.

The all-in-one payment account comes with a business Mastercard, and enables small traders to keep on top of their business through a suite of bookeeping tools.

Co-founded in 2011, the business currently supports 200,000 customers. It was acquired by BBVA in 2016.

The UK launch will see it targeting Britain's 5.8 million SMEs - 76% of whom are solo traders.

CEO Antti-Jussi Suominen (pictured), says: “The UK is one of the most important markets for fintechs and has always been known as a nation of sole traders. They are the backbone of the economy, and we genuinely believe that the banking market for microbusinesses is underserved and ineffective - it simply doesn’t work for a lot of businesses. For most people, their business is personal and therefore they need a tailored, personal solution from their banking partner - something Holvi delivers.”

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