"It is a complete replacement for a traditional bank, and targeted specifically at people doing group activities together. Ie. people running conferences, art projects, indie film projects, sports clubs etc. As it does replace traditional banks you can use it for normal credit transfer, both in and out. But the really sweet thing is that it's a group account, so multiple people can view what is going on. You can attach any kind of metadata to payments, meaning that accounting is completely automatic and in realtime, plus it offers great opportunities for linking to social networks. You can also share your budget, and the realtime status, with the world if you want to be totally open.
Finally it offers easy ways to raise and collect funds, with a built-in shop (registrations, donations, merchandise) and invoicing system. Again, all tied to the core account, so everything updated in realtime. When someone pays a sponsorship fee, you immediately see it reflected in your budget.
The user interface is absolutely gorgeous. We brought in a brilliant designer to help with that and while it's meant a lot of very hard work, I think it's absolutely worth it.
We're currently regulated in Finland and would need further investment to expand Europe-wide. We're riding on brand new EU regulation which allows us to do this without a bank license, so the investment amount is much less than what a bank would require. The EU is actually a great place to do this.
We think there is a lot of activity out there, in people's minds, which is not getting done because managing and collecting money is way too difficult. Holvi is so easy absolutely everyone will want to do something with it."