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Ongoing partnership for French electronic invoicing platform jefacture.com will be anchored in joint venture.
La Hulpe, Belgium – December 22, 2022, 7.00 a.m. CET, European leader in e-invoicing Banqup Group (Euronext: BANQ) has set up a joint venture with ECMA - the entity linked to the digitalisation of the cabinets of the French National Council of the Order of Chartered Accountants - to establish their ongoing partnership in the long term. It will also allow both parties to maximise the full market potential of jefacture.com. This e-invoicing platform developed by Banqup for ECMA enables French chartered accountants to help their clients in the transition towards mandatory B2B e-invoicing. Next to that, it facilitates the additional, direct market entry of the platform to tens of thousands of SMEs.
As from 1 July 2024, all French companies should be able to receive e-invoices. This implies a significant implementation of calibrated technology by all businesses in order to comply with this VAT-based regulation. Already in 2020, ECMA therefore closed a partnership with Belgian listed e-invoicing provider Banqup in order to provide French accountants with a platform to manage the e-invoicing flows of their clients. Today jefacture.com allows SMEs to dematerialise and route all purchase and sales invoices in Factur-X format and to integrate them in their management tools. In France, there are about 20.000 accountants serving 2,75 million of SMEs. More than 600 million B2B invoices are send out yearly in the country.
Now this partnership is taken to the next level. As ECMA wants to invest heavily in the ongoing transformation and therefore wants to sustainable anchor the exploitation of jefacture.com, also to SMEs directly, the joint venture Facturel was created together with Banqup.
François Millo, Director of ECMA stated:
"Although mandatory e-invoicing will bring productivity gains for businesses, and in particular the smallest ones, it will nevertheless remain complex to implement. With jefacture.com, chartered accountants know that they can rely on a trusted e-invoicing platform in the context of this crucial reform. jefacture.com enables them to be at the heart of the invoicing flows, to assist their clients in passing this legislative milestone.”
Hans Leybaert, former CEO of Banqup Group stated:
“Thanks to the joined expertise and experience of ECMA and Banqup, accumulated by the jefacture.com platform since its launch in 2020, chartered accountants and companies have a functional and efficient tool that allows them to anticipate the transition to electronic invoicing without waiting until July 2024. With the creation of Facturel, we are sending a message to the market of a joint long-term collaboration. It shows the necessary commitment and allows the pooling of significant resources to meet the security requirements set by the public authorities.”
Financial Calendar 2023
6 March 2023: Publication FY 2022 Financial Results
18 April 2023: Publication Annual Report 2022
16 May 2023: Annual General Meeting of Shareholders
22 May 2023: Publication Q1 2023 Business Update
29 August 2023: Publication H1 2023 Financial Results
16 November 2023: Publication Q3 2023 Business Update
About Banqup Group
Banqup is a leading cloud-based platform for SME business services built on “Documents”, “Identity” and “Payments”. Banqup operates and develops a 100% cloud-based platform for administrative and financial services that allows real-time and seamless connections between Banqup’s customers, their suppliers, their customers, and other parties along the financial value chain. With its one-stop-shop solutions, Banqup’s mission is to make administrative and financial processes simple and smart for its customers. Since its founding in 2001, Banqup has grown significantly, expanding to offices in 32 countries, with more than 500 million documents processed in 2021, reaching over 1,600,000 SMEs and more than 2,500 Corporates across its platform today.
Noteworthy facts and figures:
Established in 2001, with a proven track record
2021 turnover €171 million
1400+ employees
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
Banqup 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
Listed on the regulated market of Euronext Brussels, symbol: UPG
About ECMA
Being a non-profit organisation created by the French National Council of the Order of Chartered Accountants, ECMA provides digital solutions simplifying and securing daily business of chartered accountants. ECMA supports French chartered accountants and their clients to their constantly digital transformation. Among these solutions, jefacture.com is the e-invoicing platform designed by chartered accountants for their clients. jefacture.com is used on a daily basis by thousands of accounting firms and SME’s.
(*) Warning about future statements: The statements contained herein may contain forecasts, future expectations, opinions and other future-oriented statements concerning the expected further performance of Banqup Group on the markets in which it is active. Such future-oriented statements are based on the current insights and assumptions of management concerning future events. They naturally include known and unknown risks, uncertainties and other factors, which seem justified at the time that the statements are made but may possibly turn out to be inaccurate. The actual results, performance or events may differ essentially from the results, performance or events which are expressed or implied in such future-oriented statements. Except where required by the applicable legislation, Banqup Group shall assume no obligation to update, elucidate or improve future-oriented statements in this press release in the light of new information, future events or other elements and shall not be held liable on that account. The reader is warned not to rely unduly on future-oriented statements.
Information correct as of press release publish date 22nd December 2022.