Spanish banking giant is continuing to push further into the financial technology sector with further acquisitions.

The bank announced earlier in the week that it had acquired Holvi, an online bank that caters to entrepreneurs and tech startups.

Many European banks have sought to expand outside their home base in order to swallow up competition abroad. Holvi happens to be based in Finland, a hotbed of fintech startups.

Holvi stands for ‘vault’ in Finnish, which is what the firm hopes to offer its clients. Holvi boasts offering financial services that traditional banks cannot.

The startup also caters specifically for entrepreneurs, freelancers and small business startups.

Holvi hopes to take advantage of simplified yet robust online solutions to conquer many problems facing the new digital breed of entrepreneurs and startups cropping up across the globe.

Although the exact details have yet to be released, analysts believe BBVA acquired Holvi for close to $100 million.

The young startup was founded in 2011 and has received close to $4 million in investments, making the $100 million investment from BBVA a testament to the company. Executives from BBVA touted the deal, saying they admired Holvi’s unique digital approach to offering financial services to small businesses throughout Europe.