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BBVA acquires Finnish digital banking startup Holvi

Lynsey Barber
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FINLAND-HELSINKI-PORT
Helsinki's Holvi has been bought by Spain's BBVA (Source: Getty)

The Spanish bank BBVA which last year invested £45m for a stake in UK challenger bank Atom has snapped up a digital banking startup in Finland.

Helsinki-founded Holvi, set up in 2011, has been acquired for an undisposed sum.

"We’re excited about Holvi as we share a vision about the benefit of technology for the customer. They use digital to bring a new approach to small business banking, where services essential to a business’ future such as invoicing are built into their core offer,” said BBVA's Teppo Paavola.

Read more: BBVA doubles fintech venture fund and lands in London

Holvi's management team will remain in place and will still operate under same name and banking license.

The startup, which is aimed at small businesses, will roll out new products and expand to new territories as a result of the investment.

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