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Utu raises $33m in Series B funding

Singapore based tax-free shopping fintech startup raised $33m in Series B funding led by SC Ventures.

“The way we think about our work is that we are unbuilding new product layers on top of the existing tax-free shopping infrastructure that unlocks value for all stakeholders connected to tourist shopping — brands, tourists and our VAT refund partners,” said co-founder Asad Jumabhoy.

Tags

travel, vat, tax