Holvi plans credit card launch, fundraise and IPO after split with BBVA
Holvi lost a big chunk of customers and 50% of its staff after buying itself out from BBVA earlier this year. But according to founder Tuomas Toivonen, the small business banking startup is now making more money than ever.
Founded in Helsinki in 2011, Holvi was acquired by Spanish bank BBVA in 2016. It had built up a client base of more than 150k micro-businesses in Germany, Austria and Finland and was planning expansion across Europe.
