February 5, 2020

Andrus Kaarelson becomes the new managing director of Fitek in Estonia

Andrus Kaarelson, who previously served as the Deputy Director of the Estonian Information Systems Authority (RIA) and a member of the Management Board of Elisa Eesti AS, became the new managing director of Fitek AS, an Estonian financial technology company. At RIA, Andrus Kaarelson was responsible for implementing the strategy and development of the country's central IT platforms and e-services.

Karl-Eric Schneider, who has been managing Fitek AS for 9 years, is taking on a group level position as a payment solutions business manager for Fitek Group.

Andrus Kaarelson, managing director of Fitek AS: “Estonia has been a pioneer in the digitalization of public services and the transition to e-invoicing. For the last three years, I have had the opportunity to contribute to the development of the Estonian e-state that is unique and pioneering in the world. Now I joined Fitek Group, as it is an extremely ambitious company, which has set the goal of bringing Estonian financial transaction automation solutions to European countries. I want to secure and maintain Fitek’s market leader position in digital billing solutions and to grow our new payment and financial services business in the Estonian market. And of course, I want to be a good leader for Fitek’s highly knowledgeable team!”

Mait Sooaru, CEO of Fitek Group, recognizes Andrus Kaarelson’s long experience in technology-related areas. “Andrus is a professional leader who has proven his capability and can easily understand the complex world of technology and help bring our ambitious plans into life. The companies of the Fitek Group are developing fast, and we are increasing our investments in product development and penetration of new markets.”

Last summer, the Estonian public sector switched over to full e-invoicing. Andrus Kaarelson says that such changes will take place also elsewhere in Europe in the coming years, and the Fitek Group wants to be present in these markets at the right time. “Our expansion plans are supported by a European Union directive that entered into force last year, according to which public authorities in the Member States can no longer refuse to accept e-invoices.”

Karl-Eric Schneider, who has been managing Fitek AS for 9 years, is taking on an international position as a payment solutions business manager for Fitek Group. He highlights some important successes to date: “Estonia has become significantly more paperless. While documents were scanned 10 years ago, they are no longer scanned today. People’s awareness of the “real” e-invoice that travels between information systems without being printed on paper or converted into PDF has become much better. And for us, it has not only been a commercial gain, but a pleasure to do the job.”

Andrus Kaarelson was born on December 24, 1972, in Pärnu. He has studied telecommunications at Tallinn University of Technology and received an MBA from Estonian Business School. Prior to the Estonian Information Systems Authority, Kaarelson was a member of the management board and head of the technology unit at Elisa Eesti AS, a telecommunications company engaged in strategy, investment planning, service, and network development.

Fitek and the Fitek Group

Fitek is a member of the Fitek Group, a financial technology solutions company operating in Estonia, Latvia, Lithuania, Slovakia, Serbia, and Bosnia and Herzegovina, and exports its services to 11 countries. The Fitek Group, part of a Belgian-owned company Unifiedpost Group, employs 280 people and has an annual turnover of over EUR 21 million.

Unifiedpost Group is leading European FinTech group with purpose to simplify administrative and financial processes with convenient and smart digital solutions. Unifiedpost Group was established in 2002, had pro forma turnover of over 70 million euros in 2019, and employs more than 900 people, of whom 90+ work in R&D.

Additional information: Andrus Kaarelson andrus.kaarelson@fitek.com +372 56 800 086

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