The extraordinary general meeting of the sole shareholder of JSC Eesti Post approved strategic development plans for the next five years. One of the decisions made at the meeting is the separation of the company’s information business (e-invoicing) by establishing a subsidiary “Finbite OÜ”, which from 1 January 2021 will continue to offer services in the field of infologistics business.
Starting in the new year, the electronic invoicing platform, previously known as Omniva’s invoicing center, will already operate under the Finbite brand. The Finbite spin-off process is provided by KPMG Law, the company’s legal partner.
Former member of the Board of Eesti Post Ahto Pärl has been appointed a member of the Board of Finbite OÜ. “I am convinced that the infology business as a separate company will be able to serve customers much more efficiently and, in doing so, offer them greater added value,” commented A.Pērls.
Sten Soosaar, Chairman of the Supervisory Board of Eesti Post, added that “in view of Eesti Post’s plans to focus on the development of quality postal services, the decision to separate Finbite from the company’s core business was taken in order to business will receive all the attention it needs in the future. “
The newly established company will provide an enhanced online platform for e-invoicing and infologistics www.finbite.eu, which is available in five languages. A.Pērls adds that “Finbite’s goal is to grow both in the Baltics and globally and that the company has very good opportunities to achieve it.”
In the short term, nothing will change for Omniva’s current bill center customers – all contracts will be transferred to Finbite and the terms of cooperation will remain unchanged. “In the future, we plan to invest in product development, which will create many new technical solutions and additional convenience for customers,” explained A.Pērls.
JSC “Eesti Post”, operating under the trademark “Omniva”, is an Estonian state-owned company managed by the Estonian Ministry of Economics and Communications. It provides postal, parcel, information and international business services. In addition to the parent company, AS “Eesti Post” group also includes the Lithuanian subsidiary “UAB Omniva LT”, the Latvian subsidiary SIA “Omniva” and the company “OÜ Post11” related to “Eesti Post”.
Starting from January 2021 fintech services will be provided by Eesti Post’s new subsidiary Finbite OÜ.
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