Holvi pulls out of UK market after just 6 months due to Covid and Brexit uncertainty
Holvi, the Finnish fintech offering banking for sole traders and small businesses, is pulling out of the UK market less than six months after launch, citing increased uncertainty due to Covid and Brexit. We never imagined what would happen with Covid and it looks like we are headed for a No-deal Brexit. Uncertainty is increasing to a point where we have to make an adult decision,” said Antti-Jussi Suominen, Holvi’s CEO. Suominen also admitted that the UK market was “very competitive”. Like many fintechs, Holvi is not yet profit-making, and Suominen says there is an increasing focus on getting a good return on investment at the business.