Hufsy
Full-scale Financial System for Fast-moving Companies

The digital world is upon us. Look around; business meetings in the conference rooms have been replaced by Skype calls, Google reminders have taken the place of excel sheets, and Instagram has become a platform for online business development. So why should the banking world be any different? Anyhow, traditional banking doesn’t correspond with the needs of modern businesses, which makes it a no-brainer for them to choose a modern and digital alternative. With a vision to save the time that start-ups and freelancers spend to administer projects and build their business, Hufsy is providing a one-stop-shop financial system. Kristoffer Borg Petersen, the company’s CEO elaborates, “Thanks to Hufsy, companies can get a quick overview of their financial situation and can make informed decisions in an easy and comprehendible manner.” Founded in 2015, Hufsy offers a business account for startups, small businesses, and freelancers. This business account is integrated with an easy-to-understand, quick overview of business developments, making financial decisions immensely seamless.

The company’s unique value proposition revolves around the short time they take to create and open a digital bank account.

“We are operating in Germany and here it can be quite a hassle to open a business account. Not only are the banks in Europe traditionally bureaucratic and are built over legacy systems, they also take up to a month and a half to open a business account in Germany,” says Petersen. The company thus takes a different approach emphasizing the clients’ needs and enabling them to open a bank account in a day. Customers only need standard documents such as the tax number or entry in the commercial register, among other documents, to open a digital bank account through Hufsy. The firm supports startups from the very beginning and offers them the right banking solution. Through automated processes and a blockchain-powered platform, Hufsy delivers a single pane of glass solution that gives startups a better overview of their finances and integrates them with systems that they use on a daily basis. Hufsy has grown substantially in a short period of time. Although they only offer a digital bank account, the company is all set to launch the integrations and feature dashboard in the next few months. This will allow the users to optimize the platform according to their needs and will provide an overview of all integrations and the full financial situation in real time. Going ahead, Hufsy can integrate directly with the accounting systems and serve as the platform where all finances are settled. “We will facilitate mobile business banking, accounting, VAT statements, integrations with accounts, and also transaction-based invoicing,” states Petersen. Created especially for small to medium-sized businesses along with freelancers and start-ups requiring an intuitive and simple financial management, Hufsy will also provide customization options to clients.

Under the leadership of Petersen who brings a commercial mindset and an eye for detail to the company, Hufsy will also be creating a marketplace that will connect organizations with the tool that they are already using to manage their financials. “I see a market full of opportunities and although we operate in Germany, we have a plan to expand to other European countries and eventually become global,” concludes Petersen.