Holvi, a Finnish fintech startup was acquired by Spanish Banking Group BBVA.

Holvi, a Finland-based fintech startup, has officially been acquired by multinational Spanish banking group, BBVA.

Founded in 2011 by Tuomas Toivonen, Holvi provides entrepreneurs and SMEs with a “regulated one-stop-shop” to collect income, manage expense and offer a real-time view of finances, which includes online sales platform, invoicing facility and cashflow tracker. The company is a licensed authorized payment institution and has been regulated by the Financial Supervisory Authority of Finland (FIN-FSA).

The acquisition of Holvi notably comes just two years after BBVA acquired U.S. digital bank, Simple, for $117 million. The Spanish bank also acquired a 29.5% stake in UK’s digital-only lender Atom in 2015. Holvi will continue to run as a stand-alone business and will continue to be located in Helsinki.