Torvenna

A money app for couriers, tutors, photographers and other independent workers.

  1. 5 weeks

    From signed contract to accounts and cards live

  2. 18%

    Of income set aside for taxes, on average, automatically

  3. 3 min

    For a new member to get an account number

Torvenna logo

Backspin let us offer savings accounts and debit cards to our members without becoming a bank ourselves. We launched in five weeks.

Freja Lund

Co-founder and CEO, Torvenna

Challenge
Torvenna wanted to hold members' money and issue debit cards, but partnering with a bank directly meant a long contract process and an expensive in-house compliance team.
Solution
Torvenna built on Backspin's accounts and card APIs, opening an account for each member at sign-up and moving tax savings automatically with scheduled transfers.

A money app for people who work for themselves

Couriers, tutors and photographers have income that changes every month, and taxes are their responsibility. On Backspin, Torvenna opens an account with its own account number the moment a member signs up, plus a debit card to spend from it.

Every time a payment lands, a share moves into a separate tax pot by scheduled transfer. Members pick the percentage once, and the rest happens in the background.

What comes next

Torvenna plans to let members invoice clients and get paid by instant transfer, all on Backspin.