We decided to add a few features to accounts. The first being that you can open one online in 60 seconds and share it with other people. This is what we call a group account. And when you have a group of people sharing an account, you might want to get online payments there as well? So we added a built-in online store and dead-easy invoicing features to the package. All of this is built around your budget, which is always updated in real time.

We feel the ‘-ing’ was missing from bank accounts — they should do the accounting as well. Holvi is this kind of account. We believe it is the biggest banking innovation since the Medicis (or at least since online banking started).

Finovate is all about disruption and new ideas in finance and banking. It’s not only startups up on stage, but many established companies are there as well. E.g. this year they have, in addition to Holvi, companies such as Adobe and Paypal, while almost everyone who follows innovations in the finance sector will be there, participating. Banks and institutions included.

It’s quite amazing to have been accepted there and we’re looking forwards to showing the world all the cool stuff we have been working on, so look out. There is a lot of work ahead, and we’ll be pushing non-stop to prepare ourselves for February. The format itself is intriguing: no slides, no sales pitches, just a demo. We will not be satisfied with anything short of amazing.

Now, finally, we are returning this great tradition. So do come round on the 17th of November to the Holvi office in the great Cable Factory in Helsinki. You can come round just to sit and work on something fun, to share a presentation on some cool technology, or just to chat and share. We encourage people to work on things they are passionate about, but perhaps do not always have time to do.

The night will start at 18:00 and continue until around 22:00 or so. The address is Tallberginkatu 1, door E, 5th floor, Helsinki.

Let us know if you’re coming in the comments, or on our Facebook event page.

(From Holvi co-founder, Kristoffer)

When I was a small kid I read a wonderful Finnish book about great inventions in the world. This was in the late 80s. There was a piece about this amazing new computer, the NeXT workstation, with a picture of Steve Jobs proudly showing it off. Here was a guy who had not only set up one of the most influential companies of that era, but who was then forced to leave the very company he started. But with no loss of enthusiasm, he continued onwards to create the next revolutionary new thing. I had already a fair knack at coding, an understanding of technology, and a huge desire to make my mark in the world. Seeing the ambition Steve possessed made me decide to be that guy, and I have since taken every opportunity I can to reach that point. I do not have many idols, but Steve is quite possibly the most important personal hero of my life.

I think one of the most important lessons he has often talked about, and one which I have taken too long to learn, is that your gut instinct is generally right. This has happened time and time again, and for whatever reason, I have chosen to ignore it or listen to what others were saying. The problem with gut knowledge is it’s difficult, or even impossible to quantify or argue, until it eventually turns out to be right. Your gut operates years ahead of everything else. In fact, I can’t remember a single time my gut was dramatically wrong. All that is needed is the courage and stamina to push forwards with that belief. It will be the most rewarding decision you end up making.

Last night something very odd happened. I went to bed and dreamt that Steve Jobs was in hospital dying. I have never had a dream with him in it before. A crowd had gathered at the hospital to hear or see him, for one last time. He went through a long and painful operation at the hands of many doctors. Miraculously he survived from that and eventually had the strength to come out to see everyone. He smiled that beaming, impish, world-beating smile, so typical of him, and told everyone who had gathered there to remember to eat healthily.

Then I woke up to find he had died.

Steve will be forever remembered as the leader who would boldly go where nobody else dared. To forever question the norm and strive constantly towards excellence. He is an inspiration, and our company will be waving the pirate flag in his honour, as we work hard to fulfill our own dream.

The articles are in Finnish, but here’s an abridged and translated version in English.

There’s money here, too

Kristoffer Lawson, Tuomas Toivonen and Mikko Teerenhovi want to help event organizers with the Holvi service.

Holvi is seeking markets for the product which many people do not dare to tackle. Holvi aims to ease the money management for organizations, sports clubs or other groups.

- Everyone says that there is no money in group activities, but sure there is, Kristoffer Lawson says.

As evidence, he shows a calculation the company has made of the European market: 10 million potential customers who make payments annually worth 75-100 billion euros. For example, in Finland in the Scouts alone there is an annual payment volume of 40 million euros.

With Holvi a group can set up an online store, sell tickets, send invoices and manage expense claims. What makes Holvi special is the way it links up payments and transactions directly with the group’s budget, and thus automates bookkeeping. Groups can use Holvi to completely replace their traditional bank account.

The revenue model of Holvi is based on a service of 90 cents the company charges for payments. The service is opened to a limited set of customers at the end of September.

- We want to start with a wide range of customers, so that we can best develop the service, Lawson says.

In 2012, the company plans to open a the service to a larger set of customer groups and begin the conquest of Europe.

Josi Tikkanen

First, we would like to announce that we have raised € 250k in seed investment from a stellar set of investors. The funding round was led by angel investors with extensive background in financial services and technology entrepreneurship, and by Seedcamp, the leading seed investment program in Europe. Funding was also provided by Tekes, the Finnish Funding Agency for Technology and Innovation.

Second, this July we completed our registration as a Small Payment Institution with the Financial Supervisory Authority (FIN-FSA), the regulatory authority in Finland. As a registered payment services provider we can operate payment accounts compliant with the EU Payment Services Directive. This also offers us a ready path to expand our services throughout Europe.

Third, in September 22nd, we’ve been selected as one of the 15 finalists for Arctic Startup’s Arctic15 event in Helsinki, where we will be opening our services to Finnish users for the very first time. You can sign up for the private beta at Holvi.com!

We are in London this week for Seedcamp’s number one networking and mentoring event, Seedcamp Week. There we will show Holvi for the first time to investors, media and fellow entrepreneurs from all round the world.

Get in touch to learn more about Holvi.