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This article was published on March 7, 2016

Next-gen business bank Holvi has been acquired by Spain’s BBVA

Next-gen business bank Holvi has been acquired by Spain’s BBVA
Martin Bryant
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Martin Bryant

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Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-qualit Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-quality, compelling content for them. He previously served in several roles at TNW, including Editor-in-Chief. He left the company in April 2016 for pastures new.

Spanish banking group BBVA has acquired much lauded European business banking startup Holvi, both companies have announced today.

Holvi, which pitches itself as a next-gen bank for entrepreneurs, freelancers and small businesses, will continue to operate separately but BBVA says that there will be a “two-way flow of knowledge” between the two companies. Terms of the deal have not been disclosed.

Finland-based Holvi launched in 2011 and had raised a modest $1.7 million to date. This is the latest such deal for BBVA, which has invested in UK mobile-only bank Atom and acquired a similar US startup, Simple in $177 million in 2014.