Holvi
“Can a licensed European payment institution become the complete financial OS for freelancers and SMEs — from banking and credit to bookkeeping — without relying on any third-party financial infrastructure?”
Founded in 2011 in Helsinki as a digital banking alternative for self-employed people ignored by traditional banks, Holvi combined a payment account, invoicing, and bookkeeping in one product. Acquired by BBVA in 2016, it remained a standalone neobank for freelancers across Finland, Germany, and Austria. Following BBVA's divestiture, Keru Fintech Investments acquired Holvi in 2024. The company has since evolved from a single-market freelancer tool into a broader SMB financial OS — adding business credit cards with in-house credit lines, multi-currency accounts across 18 currencies processed without third-party providers, and team expense management — while retaining its Authorised Payment Institution licence and Mastercard Principal membership as the backbone of its self-operated infrastructure.