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Friday, 19.04.2024, 23:15
Fitek Group’s 2018 Turnover is 21.5 Mln Euros
In 2018, Fitek
continued its expansion. In the beginning of the year it acquired a majority
share of the Lithuanian concern SIS. In spring, Fitek purchased shares in a
Serbian e-invoice and digital printing business, and expanded to the UK in
autumn.
Mait Sooaru, Fitek’s
Group Manager: “We were able to grow in our existing markets, expand
quickly to new, growing markets, invest in new products, and grow our
profitability all at the same time.”
Fitek Group
clients include 380 Estonian state institutions, private-sector businesses of
all sizes, including Tele2 Estonia,
Latvenergo and Lattelekom in
Latvia, Maxima in Lithuania, and the
bookkeeping company Grant Thornton in
Europe.
“In 2019 we’ll continue to expand to new countries,
and we plan to invest approximately one mln euros in current- and new-product
development. We expect the fastest growth from our purchase-invoice business,
where we plan to double capacity,” says Mait Sooaru.
This spring Fitek will bring an entirely new solution to the
marketplace: a self-service invoice management portal created for small- and
medium-sized businesses. This new product will make e-invoices available to all
who desire them, allowing e-invoices to be easily assembled and sent, including
small quantities of invoices at no cost. The solution is connected to all local
e-invoice channels and international invoices may also be sent.
Andres Lilleste, Fitek’s
Business Director: “With this new product we want to give everyone the
possibility to send and receive e-invoices, as well as meet the requirements of
state suppliers. We’ll offer this new solution in several European states.”
The financial solutions company Fitek Group operates in Estonia, Latvia, Lithuania, Great Britain,
Slovakia, Servia, and Bosnia and Herzegovina. The company exports its services
to 20 states. The group employs 270 people, and it’s 2018 turnover was 21.5 mln
euros.