“Everyone working at Holvi has a background in entrepreneurship and freelancing, so we’ve all had firsthand experience with the problem that bookkeeping tends to get put off. A lot of startups might start off with a CEO, CTO, and maybe a marketing person. This set-up offers a variety of talents, but what's missing is someone looking after the bookkeeping. Until all of a sudden the Finanzamt comes along after six months and says ‘By the way, you DO have to pay VAT, and you owe this much in income tax’, and then you’ve got a problem with liquidity on your hands."

"A lot of startups might start off with a CEO, CTO, and maybe a marketing person. In all this, there isn’t really someone there to look after the bookkeeping."

“When you’re just starting out, just being on top of when an invoice comes in or when an invoice has been paid is totally critical. Holvi makes sure you get an automatic notification on these sorts of things. For people who for instance have a tech background but not necessarily a bookkeeping background, Holvi offers a reassuring product. Going freelance or becoming an entrepreneur can be really frightening, especially from a German perspective. Holvi provides an added level of security.”

“When you deal with money, you are dealing with one of the most basic levels of trust. This, in particular, is a big hurdle for entering the German market.In order for Holvi to open a business bank account for customers, both European and individual member state laws require that we can confirm that this person is who they say they are, lives where they say they do, and runs the business that they claim to. The customer needs to feel comfortable providing us with their data online, and because of this, providing a safe space for customers is a number one priority.”

"When you deal with money, you are dealing with one of the most basic levels of trust. This, in particular, is a big hurdle for entering the German market."

"Before Holvi, BBVA also partnered with Simple, who offers a very similar product to ours in the U.S. We were able to take this history into account when choosing a Fintech partner who could both mentor us and let us stay essentially independent."

"BBVA bought Holvi because they wanted to be a part of this. BBVA is serious about going digital and their attitude towards innovation is one I've only seen from startups up to now. With BBVA we knew we'd have a partner who could help us grow without stifling the ‘startup’ part of who we are."

“One thing that Holvi founder Tuomas often says to explain this is that the banks are like big ships. They take forever to turn, but once they do turn, they have huge momentum. Of course, banks and fintechs are competitors in that they’re fighting for investors' money.And fintechs definitely have the upper hand right now in lots of ways. But this doesn’t mean that big banks and fintechs are natural enemies. There’s a whole spectrum of fintech, from startups with total independence, to traditional banks offering part of the fintech package, to startups offering a fintech package built on the backbone of a bank. A lot of fintech experts like to say that there’s only one true way, but I’ve never heard them say there’s one true way because.”

"Banks are like big ships. They take forever to turn, but once they do turn, they have huge momentum."

Want to learn more about Holvi’s services? They’re hosting a range of events in betahaus, including seminars for paperless bookkeeping! More info on that here. 

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