March 2, 2017

Fitek is expanding in Europe

Fitek Group has acquired a shareholding in the Slovakian financial technology company, SmartPost. This is the next step in the expansion plans of the Fitek Group. Fitek has been exporting its services to Scandinavian countries, Germany and Poland. By acquiring a shareholding in SmartPost, Fitek homemarket expands to Slovakia. The acquired company will be renamed to Fitek.

Mait Sooaru, Fitek Group CEO: “Slovakia is the next step for us in Europe. Bratislava is logistically very well located. That gives us a potential to grow further into Czech Republic, Austria, and Hungary. Slovakia, with its population of 5.5 million, is a rapidly developing market, where machine-readable e-invoices are not yet widespread. We are a growing financial technology company and a pioneer in the area of e-invoices in the Baltic States, so we are able to share our experience in other European countries. Several Slovakian companies have already expressed interest in Fitek current invoicing solutions.”

SmartPost is a fast growing Slovakian invoice operator with a annual turnover of one million euros in 2016. The company employs fifteen people, and has clients which include financial institutions, infrastructure service providers, and telecom companies.

Head of Fitek Global Inbound Business Unit, Indrek Allas, will share his experience at the Estonian Accountants’ Conference on "E-invoicing and digitalization - where is the benefit?" by talking about sending and receiving e-invoices, and about the newly launched self-service platform Arved.ee. This e-invoicing platform is developing fast and will have 8,000 users by mid-October.

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Fitek has become a member of Foreign Investors Council (FIC) in Serbia.

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Fitek Group, the leading Baltic and European fintech and e-invoice solutions provider, will participate in the most important event of the year for financial leaders at the Slovakia-CFO Forum. The event will be interactive in nature, bringing together unique stories, talk shows, speaker discussions, and inspirational presentations. Fitek will be participating as the event’s Gold sponsor, as well as one of the event’s speakers.

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