Holvi acquired by Keru Fintech Investments
– BBVA has received and accepted an offer to sell Holvi.
– The new owner of Holvi is Keru Fintech Investments.
– Holvi will continue its business in Finland, Germany and other European markets.
Helsinki, 2 February 2021 – Holvi, the digital banking service for the self-employed, has moved to a new owner. BBVA, the previous owner, has received an offer to sell Holvi and accepted it. Keru Fintech Investments Oy (Keru) has acquired all Holvi shares from the Spanish banking group and is the new and sole owner of Holvi with immediate effect.
Keru is an investment company established for the purpose of acquiring Holvi and continuing Holvi’s business in Finland, Germany and other European markets. The sole owner and founding shareholder of Keru is Tuomas Toivonen, one of Holvi’s founders. In light of these changes, Antti-Jussi Suominen, current CEO of Holvi, has offered to step down from his role. The Holvi board of directors has accepted this offer. Suominen has handed over his responsibilities to Toivonen, who will lead Holvi as CEO with immediate effect.
Under his leadership, the company will continue to focus on strengthening its own position in the core European markets – accordingly, Holvi’s customers can continue to use the service as usual.
“This step marks the beginning of an exciting new chapter for Holvi and brings us closer to our entrepreneurial roots and our customers. With the knowledge we have gained from BBVA’s support over the past few years, and the commitment of our experienced team, we are well positioned to continue our mission of simplifying the working lives of the self-employed,” says Tuomas Toivonen, CEO of Holvi. “We will now focus all our efforts on improving and expanding our offering.”
Toivonen continues: “I would also like to take this opportunity to thank Antti-Jussi for his contributions and commitment to the company. His leadership, strategic thinking and operational experience have strengthened Holvi and helped put us on the right track. He will always be a part of the Holvi legacy.”
Holvi is the business banking service for all self-employed and freelancers. It’s a digital payment account, combined with invoicing, expense management, streamlined bookkeeping and real time business insights – all in one place. Holvi was founded in Helsinki in 2011, CEO is Tuomas Toivonen. Holvi is authorised by the Financial Supervisory Authority of Finland (FIN-FSA) as a payment institution with a license to operate across Europe. Over 200,000 self-employed people use Holvi’s banking service throughout Europe. Holvi has offices in Helsinki, Berlin and Madrid.