Banqup Scales to 175,000 Users in France as E-Invoicing Mandate Accelerates Growth

Banqup Group has reported a significant surge in user adoption within the French market, driven by the national e-invoicing mandate. For fintech professionals, this expansion demonstrates the efficacy of a partner-led distribution model over direct sales, leveraging regulatory compliance shifts to embed financial operating platforms directly into established accounting ecosystems at scale.

What was announced

Banqup Group SA, listed on Euronext as BANQ, provided an operational update during the 81st Congress of the Expert-Comptable Media Association (ECMA). The company serves as the underlying technology provider for jefacture.com, which is the accredited platform (Plateforme Agréée) developed by ECMA. ECMA acts as the digital arm of the French National Board of Chartered Accountants (CNOEC).

The update highlights that despite previous regulatory delays in France, the official launch of the e-invoicing mandate has catalyzed growth. Banqup’s strategy relies on utilizing ECMA’s distribution channels rather than building an internal direct sales network. This approach has resulted in nearly 175,000 registered business clients actively using the platform. Furthermore, approximately 4,900 chartered accounting firms are now directing their client networks toward jefacture.com.

The platform provides a suite of services including e-invoicing, e-payment, e-reporting, and e-trust solutions. Banqup views this onboarded network as a foundation for upselling additional products, specifically its payment module. The company is using this partner-led Go-To-Market playbook as the primary template for other European growth markets that are currently facing mandatory transitions to electronic invoicing. The technology stack is designed to monetize these complex compliance shifts by automating financial workflows for both the accounting firms and their end-business clients.

"We have consistently communicated to our shareholders that the French market represented a major growth driver for Banqup. While regulatory postponements delayed the initial timeline, the current adoption metrics prove that our patience and strategic execution is paying off. jefacture.com is now operating as a primary engine of automated financial workflows in France, validating our technology stack and our ability to monetize complex compliance shifts."

Koen De Brabander, CEO of Banqup Group.

The companies involved

Banqup Group is a European fintech provider focused on simplifying financial flows. Its platform is designed to handle e-invoicing, e-payments, and e-reporting, with a specific emphasis on built-in compliance. The company operates as a technology layer that allows businesses to manage administrative and financial tasks within a secured environment. By positioning itself as a provider of e-trust solutions, Banqup targets the intersection of regulatory requirements and business efficiency, providing the infrastructure for digital financial interactions.

ECMA, or the Expert-Comptable Media Association, is the digital organization established by the French National Board of Chartered Accountants (CNOEC). It serves as a bridge between the accounting profession and digital transformation tools. By creating jefacture.com, ECMA provides a centralized, accredited platform for French accountants and their clients to meet the requirements of the national e-invoicing mandate. This partnership positions ECMA as a critical gatekeeper in the French financial ecosystem, as it controls a primary digital channel through which thousands of accounting firms manage their clients' financial data and compliance obligations.

What FF News has reported before

FF News has previously tracked Banqup’s efforts to enhance the security and utility of its financial platform. In July 2025, the publication reported on a strategic collaboration in Banqup Group and iPiD Join Forces to Strengthen Payment Security and Tackle Invoice Fraud. That partnership focused on integrating iPiD’s payee verification technology into the Banqup ecosystem to mitigate the risks associated with invoice fraud. By verifying bank account ownership before payments are executed, the integration aimed to provide an additional layer of security for the businesses using Banqup’s e-invoicing and payment modules. This focus on security complements the company's broader strategy of providing compliant, end-to-end financial workflows for the European market.

What this means

The success of the jefacture.com model suggests that the "trusted advisor" route—targeting accountants rather than end-users—is becoming the dominant strategy for B2B fintech expansion in Europe. As mandatory e-invoicing spreads across the continent, legacy accounting software providers are under immense pressure to either build similar accredited platforms or integrate with third-party technology stacks. The primary industry question now is whether this model can remain as effective in markets where the accounting profession is less centralized than in France. Furthermore, the shift from simple compliance to active payment monetization will test whether businesses view these mandated platforms as mere tax tools or genuine operational hubs.