Fitek will start incorporating the phrase "Part of Unifiedpost Group” in its logo and communications starting today, in recognition of the parent company’s listing on the regulated market of Euronext Brussels (the “Listing”).
Fitek, a leading financial solutions company operating in Estonia, Latvia, Lithuania, Slovakia, Serbia, and Bosnia and Herzegovina, was acquired by Unifiedpost Group in 2019.
On 22 September, Unifiedpost Group’s shares started trading on the regulated market of Euronext Brussels, following a private placement to qualified and other exempted investors (the “Private Placement”).
Through the issuance of a total number of 8,750,000 new Shares in the context of the Private Placement, Unifiedpost raised €175 million gross proceeds to strengthen its financial position in the short term by repayment of the existing acquisition facility and to further accelerate its growth strategy and tap into attractive opportunities at the intersection of multiple, large high-growth markets.
The Private Placement and the Listing bring new strength to the group, enabling it to launch new technologies and to provide new fintech services to its clients throughout Europe. Fitek and Unifiedpost Group are well positioned to capitalize on the acceleration of the digital transformation of businesses, including SMEs, driven by structural and regulatory tailwinds in the areas of e-invoicing, identity and access management as well as payments, fueled by favorable regulatory initiatives such as PSD2 and the increasing adoption of mandatory e-invoicing on national levels. Unifiedpost Group nearly tripled its revenue between 2017 and 2019 (pro forma), to a total of €69.0 million. In 2019, Unifiedpost Group processed over 350 million documents yearly, reaching nearly 400,000 SMEs and more than 250 corporates2.
“Unifiedpost going public is an exciting next chapter in our story”, said Mait Sooaru, CEO of Fitek Group. “It is amazing to see that a company originating from Baltics has developed to a level that enables it to be a part of publicly traded company on one of the top stock exchanges in Europe”.
Hans Leybaert, CEO of Unifiedpost Group, added: “The capital raised will allow us to develop new services and technologies for our clients at an even faster pace, and it will expand our presence in Europe as a leading fintech company.”
About Fitek Group
Fitek Group is the market leader in its home markets in developing e-invoicing and interoperability networks. Its products and services include e-invoice roaming and Pan-EU PEPPOL e-invoicing. Fitek Group employs 270 people and its 2019 turnover was over 21 million EUR.
About Unifiedpost Group
Unifiedpost Group wants to become the leading cloud-based platform for SME business services built on “Documents”, “Identity” and “Payments”. Unifiedpost operates and develops a 100% cloud-based platform for administrative and financial services that allows real-time and seamless connections between Unifiedpost’s customers, their suppliers, their customers and other parties along the financial value chain. With its one-stop-shop solutions, Unifiedpost Group’s mission is to make administrative and financial processes simple and smart for its customers. Since its founding in 20011, UNIFIEDPOST GROUP has grown significantly, expanding to offices in 15 countries throughout Europe, with more than 350 million documents processed in 2019, reaching over 400,000 SMEs and more than 250 Corporates across its platform today.
Noteworthy facts and figures:
- Established in 2001, with a proven track record1
- 750+ employees throughout Europe, of whom 100+ work in R&D
- 350+ million documents processed in 2019
- Diverse portfolio of clients across a wide variety of industries (banking, leasing, utilities, media, telecommunications, travel, social security service providers, public organisations, etc.) ranging from large internationals to SMEs
- Unifiedpost Payments, a fully owned subsidiary, is recognised as a payment institution by the National Bank of Belgium
- Certified Swift partner
- International M&A track record
For additional information contact: Mait Sooaru, email@example.com
1 In 2001, Unifiedpost Group started its document processing activities.
2 Unifiedpost Group defines “corporates” as any business with 500 or more FTEs and governments and “SMEs” as any business with less than 500 FTEs.