Holvi vs Pennylane Comparison

Why choose Holvi

• Has a free plan (Pennylane does not)
• Higher Cost score (8/10 vs 5/10)

Why choose Pennylane

• Higher Integration score (7/10 vs 3/10)
• Higher Scalability score (6/10 vs 3/10)
• Better fit for enterprise (3/10 vs 1/10)
• Better fit for small business (9/10 vs 7/10)

Holvi

Pros

• The free Flex plan gives sole traders an IBAN and a virtual card with no monthly fee.
• Invoicing, payment matching and receipt scanning all happen in the same app as the bank account.
• The Lite and Pro plans include accountant access for handing over the books.
• Finnish customers can add a done-for-you bookkeeping service.

Cons

• Holvi only serves Finland, Germany and Austria.
• On Flex, per-transfer fees add up quickly as volume grows.
• It is not a full double-entry accounting system and has no consolidation or forecasting.
• Some reviews on G2 and Trustpilot complain of sudden account freezes or closures.
• Currency exchange carries a 1 percent fee.

Pennylane

Pros

• Accountants and clients work in the same shared space, which reviewers call its main strength.
• Bank transactions are categorised and reconciled automatically, based on past categorisations.
• A business account with an IBAN and employee cards is included even on the entry plan.
• It is approved for French e-invoicing, and Premium adds electronic filing of VAT and tax returns.
• A 15-day free trial and cancel-anytime billing mean there is no long-term commitment.

Cons

• Reviewers consider it fairly expensive, and there is no free plan.
• Full accounting reports and tax filing are limited to Premium.
• No payroll or CRM of its own; it relies on Payfit, Silae and CRM integrations.
• Users report slow support on complex issues, occasional bugs, and a multi-currency feature that still needs work.
• Pricing for companies with employees is quote-based on the vendor site.