Home > > VAT-refund startup Refundit raises $9.8 million led by travel-tech giant Amadeus

VAT-refund startup Refundit raises $9.8 million led by travel-tech giant Amadeus

11/15/2019| 2:26:29 PM| 中文

Refundit's digital solution aims to allow worldwide visiting Europe to claim VAT refund via a digital process, without paperwork and without standing on line at the airport.

The venture arm of Spanish travel-tech firm Amadeus is leading an investment round of $9.8 million in Israeli startup Refundit, which is developing a mobile solution to make it easier for travelers to get their VAT money back after shopping sprees abroad.

Additional investors in the round include Portugal Ventures and other returning seed round investors, the startup said in a statement on Thursday.

Refundit was co-founded in 2017 by serial entrepreneur Uri Levine, best known for co-founding the driving navigation app Waze, which was sold to Google in 2013 for an estimated $1.1 billion, and Ziv Tirosh, former CEO and co-founder of Stockton, a bio-ag technology company. The firm had raised $2.5 million in seed money from investors to date.

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TAGS: Amadeus | Refundit | financing | refund
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