Banqup signs agreement with UAE tax authority for Peppol electronic invoicing
The Belgian financial technology group has signed an agreement with the Federal Tax Authority of the United Arab Emirates (FTA) to develop and operate a Peppol Corner 5 access point. Banqup is acting as a technology provider within a consortium led by Clever Science Computer System Trading Co. LLC, based in Dubai.
Banqup Group (Euronext: BANQ) announced on September 28, 2026 the signing of an agreement with the Federal Tax Authority of the United Arab Emirates to develop and implement a Peppol Corner 5 access point.
Within the consortium led by Clever Science Computer System Trading Co. LLC, a company established in Dubai, Banqup was selected as the technology provider responsible for supporting the development, implementation and operation of this access point.
The UAE electronic invoicing program is governed by the Ministry of Finance, the regulatory authority and policy-making body, while the FTA acts as the operational body responsible for the implementation and administration of taxes in the country.
A five-corner model based on the Peppol standard
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The solution is based on a five-corner model designed to process electronic invoices through a network of interconnected parties, in line with the Peppol standard and FTA requirements.
According to the press release, the UAE becomes the first country to implement a fully decentralized model for continuous control and exchange of transactions (DCTCE) based on the Peppol framework.
The mandatory electronic invoicing system will be rolled out in phases, initially covering transactions between businesses (B2B) and between businesses and administrations (B2G). The first phase is scheduled to begin on January 1, 2027 and will apply to companies with annual revenues exceeding 50 million AED.
A seven-month timeline and managed services
The project covers a period of seven months, which began on October 27, 2025.
The design and implementation phase was completed in May 2026. Following this phase, Banqup will provide managed services and technical support.
The announcement is part of a series of recent developments for the group, which reported on September 21, 2026 a partnership with Post Business Solutions in Austria and announced on September 17, 2026 its deployment in France.
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 25,8 millions d'euros
Quarterly revenue: 25,8 millions d'euros
Revenue growth: 5,7 %
EBITDA margin: -28,3 %
Net income: -12,3 millions d'euros
46,1 millions d'euros
Guidance from the release
The Company confirms its guidance for ARR digital revenue growth of 25-30% by year-end and maintains its guidance on adjusted EBITDA to be appr. 3% of revenue
Risks mentioned
Endettement financier net élevé de 46,1 M€ au 30 juin 2026
Augmentation du taux d'intérêt PIK de la facilité senior de 8,00 % à 10,50 %
Baisse de 36,7 % du chiffre d'affaires de la communication traditionnelle
Opportunities identified
Croissance de 42,3 % du chiffre d'affaires d'abonnement tirée par la facturation électronique en Belgique
Déploiement obligatoire de la facturation électronique en France à partir de septembre 2026
Traction accrue en Allemagne suite à la confirmation du déploiement réglementaire dès janvier 2027
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
