Pension insurance company Elo and digital business banking provider Holvi start collaboration to help entrepreneurs secure their income throughout work life

February 14, 2023 Salla Simonaho

Helsinki, 14.2.2023

The partnership between Elo and Holvi makes it easier for entrepreneurs to insure their business right from the start. Entrepreneurs can now set up their Elo YEL insurance directly from Holvi – while simultaneously taking care of all their business finances.

“Starting a business can be stressful – at Holvi, it’s our mission to make it as easy as possible. Holvi already has the necessary tools for managing business finances, so extending our offering to include YEL insurance matches our mission perfectly,” says the Holvi CEO Tuomas Toivonen.

“Elo is a pension insurance company whose expertise entrepreneurs can trust. We want to ease the lives of entrepreneurs by offering YEL insurance directly where entrepreneurs handle their business finances,” explains Sanna Laakso Director of Development at Elo.

“We’re excited about this new collaboration, as both companies want to help simplify entrepreneurs’ work-lives – no matter the size of the business,” both Toivonen and Laakso agree.

It’s important for entrepreneurs to take care of their social security right from the start

There is lots to think about when founding a business, including insurance. YEL insurance provides the necessary security in case the entrepreneur gets ill, is on parental leave or becomes unemployed – while also ensuring that the entrepreneur accrues an employment pension for future retirement.

“Insurance brings peace of mind and is an important part of an entrepreneurs finances,” Toivonen says.

“YEL income is the foundation for any entrepreneurs social security and future pension. When set correctly, the YEL income amount secures the entrepreneurs’ income during and after the business,” Laakso emphasises.


Elo is a Finnish pension insurance company. One in three Finnish companies and around 40% of entrepreneurs have chosen Elo to manage their pension insurance needs. Elo is responsible for the future pensions of approximately 500,000 employees and entrepreneurs, 247,000 pensioners and EUR 28 billion in investment assets.


As an authorised payment institution, Holvi serves approximately 35,000 business customers in its main markets of Germany and Finland. Holvi’s all-in-one business account provides everything self-employed and small businesses need to manage their finances – from built-in expense management features, invoicing tools, online selling, and bookkeeping integrations. With everything neatly in one place, it’s easier to focus on growing your business instead of the time-consuming distractions of financial admin.

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