Nordic Startup News Early Stage Startup News From The Nordics
Narvi Payments Oy, a Finnish startup founded in 2021, is setting its sights on international expansion. The company provides business bank accounts with dedicated Euro IBANs for e-resident companies of all sizes. Opening an account online takes less than 10 minutes, allowing businesses to start sending and receiving Euro payments from over 100 countries within days.
A Focus on Human-Centric Customer Service
“We prioritize our customer service,” says Valeriya Kushchuk, Narvi’s Digital Marketing Manager. “We don’t rely on bots and AI; instead, we offer real human service representatives.”
Kushchuk highlights that opening a bank account has historically been a significant hurdle for foreign startup founders with limited references or background. Narvi aims to simplify this process.
Catering Exclusively to Businesses
Narvi, which holds an Electronic money institution license (EMI) by Fin-FSA, maintains a clear focus: “We mainly offer a variety of business accounts. Personal banking is an additional part of our offering to business owners,” Kushchuk clarifies. Their target clientele includes:
* Freelancers (single shareholder)
* Micro, small, and medium-sized corporations (multiple shareholders)
* Large Corporations
* Non-profit associations
* Digital nomads, and
* Startups
Adapting to an Evolving Banking Landscape
According to Kushchuk, the banking industry is undergoing massive and continuous changes. “It’s easy to see the evolution in ‘traditional banking’ where more and more types of companies are being underserved” she notes.
Valeriya emphasizes that safety and security are paramount and non-negotiable for Narvi, which boasts an in-house development team. This team is crucial for supporting the company’s “explosive growth.” in the first years and further anticipated scaling.
Client-Centric Approach and Sustainable Growth
“At the moment, we have about 1,500 business customers from different verticals, who truly recommend us,” Kushchuk states.
Narvi is a flexible banking company that categorizes its clients into various risk categories and adjusts fees accordingly.
Having bootstrapped in its early years, Narvi Payments Oy appears to be entering a stable growth phase, positioning it as a quintessential FinTech startup. “We don’t make loud promises, but we deliver quality service with an international team. We truly take care of our clients with a personalized approach,” Kushchuk adds.
“This hasn’t been the major trend in the banking world recently.”
Currently, Narvi’s platform is available in English, and the team also uses Finnish, Spanish, Polish, and Ukrainian to communicate with clients.
Valeriya Kushchuk recently attended Latitude59 in Tallinn and views the Baltic region as a natural area to accelerate Narvi’s growth.
