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Published: 25 september 2020 14:14

Baltic fintech mother company debuts on the international stock market

Asociatyvi nuotrauka: Fintech
123RF.com nuotr. / Fintech

The fintech company UnifiedPost Group, which manages the Fitek group that was founded in the Baltic States, has successfully accomplished its initial public offering. This week, the group debuted on the Euronext Brussels stock exchange – this will allow to even more rapidly develop new services and technologies for clients, including those in Lithuania.

Based on a contract signed on September 22, 2020, UnifiedPost Group’s shares are now sold on the Euronext Brussels regulated stock market. The company, which manages Fitek, has released a total of 8,750,000 shares at a value of 175 million euro.

In March 2019, the automated invoice management service company group Fitek became a part of one of Europe’s leading fintech companies UnifiedPost Group. Currently, companies in the Fitek group operate in Lithuania, Latvia, Estonia, Slovakia, the Czech Republic, Serbia, Bosnia and Herzegovina.

The private placement of UnifiedPost Group shares and the initial investors’ list opens up new opportunities for the group, allowing to continue developing advanced solutions and offer new financial technology services to clients around Europe.

“This is an important and also interesting event. It is a new stage of our history. It is excellent to see companies from the Baltic States develop to a level where they can be among companies whose shares are publicly traded in one of the best European stock markets. This also impacts the Lithuanian market because Fitek forms around a third of UnifiedPost Group and Lithuania holds a significant position in it. Investment in scientific research and experimental development will allow to compete even better and be innovative partners for our clients,” Audrius Kirklys, the general manager for Fitek LT, which offers effective billing solutions, says.

UnifiedPost Group CEO Hans Leybaert notes that this event will strengthen the group’s position in Europe as a leading financial technology company.

“The capital we have accumulated will allow us to even more rapidly develop new services and technologies for our clients,” H. Leybaert says.

Together, Fitek and UnifiedPost Group are prepared to make use of business, including small and medium-sized enterprise (SME), digital transformation growth, which is spurred on by structural and regulatory trends in the electronic billing, identity and access management domains.

Such changes are encouraged by favourable regulatory initiatives such as the Revised Payment Services Directive (PSD2) and the ever more broadly accepted mandatory e.invoicing at the national level.

From 2017 to 2019, UnifiedPost Group increased its income almost threefold, reaching 69 million euro. Over 2019, the company handled more than 350 million documents, reaching almost 400 thousand SMEs and more than 250 corporations.

About Fitek Group

Fitek Group is a market leader in its home markets. It develops e.invoicing and related process proliferation. The group’s products and solutions include e.invoice roaming and e.invoice management via the common European Union electronic public procurement network PEPPOL. Fitek Group employs 270 staff. In 2018, the group’s turnover reached 21.5 million euro.

About UnifiedPost Group

UnifiedPost Group seeks to become the leading cloud-based SME service platform, based on documents, identity and payments. UnifiedPost manages and develops a 100 per cent cloud-based administrative and financial service platform. By employing the one-stop-shop principle, UnifiedPost Group’s mission is to offer its client simplified and intelligently managed administrative and financial processes. Over the year 2019, the company managed more than 350 million documents.

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