Say hi to utu! This Singapore-based startup lets you get higher tax refunds on your tax-free shopping hauls. And they just raised a $33M Series B! 

Investor check. SC Ventures led the round. 

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🛍️ Shop ‘til you drop

Their main offering is a Tax Free Card, which lets you refund your $$$ in two ways. 

• Exchange your VAT refund for frequent flyer miles or hotel points from partners. 
• Get an immediate store voucher that’s equal to 120% of the VAT or GST you paid while shopping overseas.

Some more detail. They are partners with 10 global airlines (Eva Air, Qatar Airways, Singapore Airlines, etc.) and Accor—one of Europe’s largest hospitality brands. 

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🧳 Itching to travel?

If there’s one thing we all love doing on overseas trips, it’s tax-free shopping. But…

• Tax refunds aren’t always the easiest to get.
• Many tourists who pay upfront only get a part of their spending back.

We can all agree that we deserve more. 🤷

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🤑 What’s with the $$$?
They’ll acquire CardsPal, a Singapore-based fintech that lets users find deals and cashback promos.

• The acquisition will help them open a digital marketplace, a promotions engine, and a merchant registration portal. 
• It’ll also help them expand to markets like Italy and France, and other countries that offer VAT and GST refunds.