EU Sovereignty Score
EU sovereignFintech & NeobanksHeadquarters: FI

Holvi: sovereignty score and 8 European alternatives

Holvi is an online business banking service for self-employed people, small companies and teams. Its offering includes a business account with SEPA and international payments in several currencies, debit, credit and virtual cards, invoicing and e-invoicing, and bookkeeping help such as receipt scanning, a VAT calculator and integrations with accounting software. Administrators can switch cash withdrawals or online payments on or off for each card. Holvi is delivered through the web and an app for iOS and Android, with pricing published for Finland, Germany and Austria.

Holvi was founded in 2011 and is based in Helsinki. It is regulated by the Finnish Financial Supervisory Authority as an authorised payment institution and is therefore not a bank. BBVA acquired Holvi in 2016 and sold it in 2021 to Keru Fintech Investments, the company of co-founder Tuomas Toivonen, so there is no foreign parent company. The software is proprietary and available only as a managed service. For European organisations this means a payment service under Finnish and European supervision.

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Sovereignty score
71 / 1000 = high exposure
100 = sovereign
  • Jurisdiction SOV-2100
    Headquartered in the EU: European law applies
  • Data residency SOV-3100
    EU-only hosting
  • Cryptographic key sovereignty SOV-360
    Key management with a European vendor
  • Freedom from lock-in SOV-640
    Closed source: switching requires data migration
  • Source & runtime sovereignty SOV-4 · SOV-655
    Closed source, runtime with the vendor

SOV codes: the matching objective in the European Commission's Cloud Sovereignty Framework. Official source

How the score is calculated

Facts and evidence

Last checked October 9, 2026
HeadquartersFI (EU)Verified by hand
Sovereignty modelVendor-hosted (EU)Verified by hand
Data hostingEUVerified by hand
Open-sourceNoVerified by hand
GDPR-compliantYesVendor-stated
Hosting signalCLOUDFLARESPECTRUM - Cloudflare London, LLC, US (US)Technically measured
CategoryFintech & Neobanks
TypeProduct
Websiteholvi.com ↗

The hosting signal shows the network that serves the vendor's website, often a CDN, and not necessarily where the service or your data is hosted. How we verify · Something wrong? Suggest a correction

Top EU-based & GDPR-compliant alternatives to Holvi

The European alternatives to Holvi come from our knowledge base of over 6,200 vendors. We only list vendors headquartered in the EU or the EEA; fully European-owned vendors rank before vendors with a foreign owner. For each alternative you see the country, the open-source status and a short description.

Score per alternative: 0 = high exposure, 100 = sovereign

116 European Fintech & Neobanks vendors are in the catalogue. View the whole category · Submit an alternative · View category on the map

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Why digital sovereignty matters with Holvi

Holvi is headquartered in FI and therefore falls under European law: the GDPR, NIS2 and the Data Act. No foreign legislation can compel access to your data.

Data is hosted exclusively in the EU, so Holvi scores best on data residency.

Holvi is closed source and hosted by the vendor. The encryption keys and the runtime sit with the vendor and switching requires data migration. Ask about bring-your-own-key, export options and open standards.

What this means for your organisation depends on your whole stack and context. The free assessment weighs Holvi together with your other vendors and gives a total score, a heatmap and the main risk drivers.

Frequently asked questions

What is the best European alternative to Holvi?

It depends on your use case. Strong EU alternatives to Holvi include 1822direkt, ActivoBank and Air Bank. On this page you can compare 8 EU alternatives by jurisdiction, data residency and open-source status.

Are there open-source alternatives to Holvi?

Our list of EU alternatives to Holvi is mostly commercial options. Browse the category on the map for open-source choices.

Is Holvi GDPR-compliant and where is the data hosted?

Holvi is headquartered in FI (EU) and hosts data in EU. That makes Holvi an EU-sovereign choice in its own right; the EU alternatives on this page are comparable European tools.

Details and sources

Verified by handHeadquarters, owner, hosting locations and licence have been checked by us against public sources. Free of charge and for every vendor, not a paid label. Nothing in this knowledge base is taken over automatically. Last checked on October 9, 2026.

Sources

Public sources used in the latest check of this record.

Compliance evidence

The links below point to the vendor's own public documents. We only record what we found: a missing link means "not found publicly", not "not compliant".

No public compliance evidence has been recorded for this vendor yet. Do you know its DPA or subprocessor list? Something wrong? Suggest a correction

Digital sovereignty in Fintech & Neobanks

Fintech & Neobanks: Digital banks, neobanks, money transfers and fintech services. In this category the choice of vendor determines who has legal access to your data, where that data lives and how easily you can switch later.

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8 European alternatives to Holvi — GDPR-compliant & EU-hosted · EU Sovereignty Score