Fitek

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Fitek

Year founded:
2015

Location:
Estonia

Sector:
FinTech

Stage:
Scale-up

Problem

Public-sector finance teams process large volumes of invoices manually, creating bottlenecks, human-error risks, and audit vulnerabilities. Fragmented invoice intake across multiple channels further reduces efficiency and delays payment cycles, imposing unnecessary administrative burdens on municipalities and shared-service centres.

Solution

FitekIN is an intelligent invoice-automation platform that collects invoices from multiple channels, extracts and validates data using optical character recognition, AI, and human-in-the-loop review, and posts approved invoices directly into existing ERP systems. The solution provides full auditability and transparent approval workflows, significantly reducing manual work and processing errors.

Impact

Adopted by the City of Riga, Estonia’s State Shared Service Centre, and Bratislava–Dúbravka City District. Finance teams in partner organisations report faster processing cycles, reduced error rates, and improved compliance with public-sector accountability standards.