Banqup Estonia
Your Estonian partner for digital administration

About Estonia
Banqup Group is the leading billing and payment solutions provider in Estonia. The team has been operating on the Estonian marketing for over 25 years, previously under the name Fitek before the country joined the Banqup Group global team in 2019.
Andrus Kaarelson leads the Estonian team, bringing his 20+ years of experience in developing e-services and IT solutions. As Estonia is one of the most digital countries in Europe, the team needs a well experienced Country Manager taking our digital and electronic solutions to market.
Take a look at Andrus' blog on Why Estonia is one the most digital countries in the world.
Specific solutions for the Estonian market
EDI
Revolutionize your supply chain efficiency with our Electronic Data Interchange (EDI) solutions, designed to automate the exchange of critical documents like orders and delivery notes. EDI replaces manual communication by creating a direct, real-time link between your system and your partners', converting data formats (XML, Edifact) automatically for seamless integration. Ideal for retail, logistics, and manufacturing sectors, our EDI solution reduces human error and accelerates processing times significantly. It allows you to connect to international networks like Peppol and local government platforms through a single connection. Enhance your data exchange with value-added services such as content matching and product code conversion for a fully optimized supply chain.
Payments
Get paid faster and streamline your financial supply chain with Banqup’s smart payments solution. By adding secure payment links or QR codes directly to your invoices, you create a seamless experience where customers can view and pay in just a few clicks. As a licensed payment institution, we enable direct IBAN-to-IBAN transfers, ensuring you receive 100% of your funds instantly with no deductions. This solution reduces administrative errors by removing the need for manual data input and offers customers a familiar payment environment via open banking (PSD2). Track the entire journey—from sending to receipt to payment—giving you complete control and visibility over your cash flow.
Sales invoice solution
Automate and streamline the distribution of all your sales invoices with a solution that adapts to your customers' preferences. Our Sales Invoice Solution allows you to generate invoices in any format and distribute them via any channel whether B2B networks, B2G platforms and email. This service eliminates the manual effort of invoicing, ensuring speed, transparency, and full regulatory compliance. You can track every stage of the invoice journey, from generation to delivery, ensuring you have complete oversight. Seamless integration with your existing accounting software means you can improve efficiency without disrupting your current workflow.
E-invoicing
Redefine your invoicing processes with Banqup, the all-in-one solution for businesses of any size. We guarantee compliance with local e-invoicing and e-reporting requirements in over 60 countries, ensuring you always meet global standards. Easily create documents in your preferred format, and let our platform automatically convert them to the specific standard required by your receiver. From self-employed freelancers to large enterprises, connect to the Peppol network and streamline your financial workflows effortlessly. Reduce manual data entry, eliminate errors, and integrate seamlessly with your existing ERP to future-proof your invoicing today.
Estonia’s evolving e-invoicing landscape
Estonia continues to modernise its invoicing framework. Business-to-government (B2G) e-invoices are already mandatory for public bodies, and from 1 July 2025, recipients can request e-invoices in a structured format under the European standard (EN 16931). Full e-invoicing adoption for all businesses is expected to become more widespread in the coming years as digital requirements evolve.
We keep our finger on the pulse via our Compliance Pulse.

Testimonials

RTK
"Banqup has set up the Fitekin purchase invoice solution for the State Shared Service Centre and opened solutions for receiving e-invoices, digitalising PDF invoices and sending e-invoices. I am glad to note that we are dealing with a reliable partner with the professional competence to offer solutions for both receiving purchase invoices and to send sales invoices."
Marek Ilves,
Head of Economic Software Development Department at State Shared Service Centre

Stokker
"We switched to e-invoices years ago and there were several reasons for that. We request e-invoices from our suppliers because we don't want to receive invoices by email and spend time entering purchase invoices manually. This also avoids human errors that can be caused by manual data entry. Thanks due to less time spent managing invoices, we also save money by preferring e-invoices. We decided to cooperate with Banqup due to the cheaper price."
Margus Uuetoa,
Director of Information Technology Division

G4S
"G4S uses Banqup services for both sending and receiving invoices. We have been sending e-invoices since it became possible in Estonia. Also, 80% of our suppliers send us e-invoices. There are several reasons to prefer e-invoices: they move fast, they are traceable and they don't get lost. In Fitekin, it is easy to get the e-invoice information, and there is no need to manually enter the purchase invoice data into the accounting software. It saves the accountant's time and reduces the possibility of mistakes."
Mariliis Kiisma-Männiste,
Chief Financial Officer at G4S Estonia
Contact our Estonian team
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