Estonian financial technology firm Fitek has chosen Leeds as the headquarters for its UK operations.
The company’s expansion into the UK a follows a visit to Leeds as part of a trade delegation organised and supported by Fintech North and Leeds Enterprise Partnership in 2017.
In addition to the Baltic States, Fitek also operates in Slovakia and in the states on the Balkan Peninsula. It has 270 employees in seven countries and exports products to 20 nations.
The invoice processing and automation specialist has almost doubled in size over three years with turnover expected to hit €20.6 million (£18.4 million) in 2018.
“Leeds is the perfect place to base the Fitek business,” said Fitek’s first UK employee Tristan Chuku.
“Yorkshire’s economy has its heritage and strengths in the very sectors that Fitek have enjoyed huge success in right across Europe.
“Our solution will bring huge improvement in efficiency and cost savings to SME businesses in manufacturing, construction, logistics and professional services.”
Fitek’s croup chief executive Mait Sooaru added: “We are always looking for possibilities to offer our solution in new markets and expansion to a number of markets is taking place at this moment.
“We are delighted to have opened an office in Leeds and it is exciting that, after months of planning, our first employees are at work.”