Way2Vat Overview
Way2VAT provides multiple financial instruments powered by its patented AI technology to serve the enterprise and SMB markets worldwide. The company’s Spend Card enables corporations to manage spending while collecting all required documentation and connecting it to an ERP system, and its fully automated, end-to-end VAT reclamation solution is designed to simplify local and foreign VAT recovery.
Cumulative Funding Raised Over Time ($)
$198KAug 2022
$925KDec 2022
$2.4MFeb 2016
$2.4MMay 2019
$5.9MSep 2017
Latest News
growth-positive
Several Insiders Invested In Way 2 Vat Flagging Positive News
The article discusses insider buying activity at Way 2 Vat Ltd, highlighting a significant purchase by insider Richard Colebatch, who bought AU$250k worth of shares at AU$0.007 each. This insider buying is seen as a positive indicator of confidence in the companys future, especially since no insiders have sold shares recently. Insiders own about 10% of the company, valued at approximately AU$1.2m. Despite the positive insider activity, the company is currently making losses, and there are risks associated with it, as indicated by six warning signs. Overall, the insider transactions suggest optimism about the companys prospects.
growth-negative
Way 2 Vat Full Year 2024 Earnings: US$0.004 loss per share (vs US$0.009 loss in FY 2023)
The article discusses the financial performance of Way 2 Vat, highlighting a revenue increase to US$3.01 million, up 47% from FY 2023. Despite this growth, the company reported a net loss of US$3.62 million, although this loss has narrowed by 15% from the previous fiscal year. The loss per share improved from US$0.009 to US$0.004. The companys share price remains largely unchanged from the previous week. The article also mentions that there are seven warning signs for Way 2 Vat, six of which are concerning, suggesting potential risks for investors.
Way2VAT earns patent for AI-Driven VAT reclaim system
Way2VAT secures A$1.1 million placement to accelerate current growth
opportunities for expanding product suite
growth-positive
Way2VAT to Acquire DevoluIVA
Automated VAT recovery provider Way2VAT has signed an agreement to acquire Barcelona-based corporate expense management and VAT recovery company DevoluIVA. The acquisition will allow Way2VAT to enter the Spanish market and expand into Latin American countries with similar domestic VAT structures. Way2VAT also plans to push its Smart Spend Debit Card through to DevoluIVAs merchant network, which includes 130,000 restaurants, taxis, gas stations and car parks. The initial consideration for the acquisition is €1 million in scrip via the issue of 11.76 million Way2VAT shares issued to DevoluIVA parent company Voxel.
AcquisitionExpand
| Sector | Fintech & Insurtech |
Funding
| Total funding | $11.62M |
| Last funding | $726.85K |
| Stage | Public |
| Rounds | 7 |
| Investors | 8 |
Team Members
3
Employees: 11-50
Web & Social Links
| Website | way2vat.com |
| Google Play | Google Play |
Locations
HaBarzel 34, Tel Aviv-Yafo, Israel
tirbei Vod, Craiova, Romania
12 East 49th Street, New York, NY, USA
Bolshoy Gnezdnikovskiy pereulok, Moscow, Russia
83 Victoria St, Westminster, London, UK
Photos & Videos
1 item(s)
Way2Vat Business
Business models
B2B
Product stage
Released
Employees
11-50
Sector
Fintech & InsurtechPersonal Finance ManagementFinancial Operations SoftwareBusiness SoftwareOperations SolutionsTarget Customer
Financial ServicesAccountingTaxEnterprise & Professional ServicesSMBs & SMEsEnterprisesCore Technology
Platforms & InterfacesAPIArtificial IntelligenceMachine LearningTags (6)
tax-refundtraveltechfintechpatent-pendingmobile-applicationsaccountingGeographic Markets
New ZealandSouth KoreaAustraliaEuropeCanadaTaiwanJapanWay2Vat Financials
$11.62M
Total funding
Undisclosed
Capital raised
$726.85K
Last funding
Public
Funding stage
7
Total rounds
8
Investors
Cumulative Funding Raised Over Time ($)
$198KAug 2022
$925KDec 2022
$2.4MFeb 2016
$2.4MMay 2019
$5.9MSep 2017
Private Equity Funding
PIPE
Dec 2022
$726.85K
iAngels, Moneta VC
PIPE
Aug 2022
$198.23K
Moneta Seeds, Undisclosed Investor(s)
Undisclosed Round
May 2019
Undisclosed
Prytek Ventures
A Round
Sep 2017
$3.5M
iAngels, Standard Bank of South Africa, Da Vinci Capital, Poalim Ventures
Seed
Feb 2016
$1.5M
Moneta VC, Poalim Ventures
Non-Equity Funding
GrantEvent
Jun 2022
$625K
(Lead)
Public Offering / Exit
POEvent
Sep 2021
Undisclosed
Mergers & Acquisitions
MNAEvent
Jul 2022
Undisclosed
Way2Vat Lifecycle
Cumulative Funding Raised Over Time
$198KAug 2022
$925KDec 2022
$2.4MFeb 2016
$2.4MMay 2019
$5.9MSep 2017
All Events
PIPE
Dec 2022
$726.85K
iAngels, Moneta VC
PIPE
Aug 2022
$198.23K
Moneta Seeds, Undisclosed Investor(s)
Undisclosed Round
May 2019
Undisclosed
Prytek Ventures
A Round
Sep 2017
$3.5M
iAngels, Standard Bank of South Africa, Da Vinci Capital, Poalim Ventures
Seed
Feb 2016
$1.5M
Moneta VC, Poalim Ventures
GrantEvent
Jun 2022
$625K
(Lead)
POEvent
Sep 2021
Undisclosed
MNAEvent
Jul 2022
Undisclosed
Way2Vat News
9 articles
growth-positive
Several Insiders Invested In Way 2 Vat Flagging Positive News
The article discusses insider buying activity at Way 2 Vat Ltd, highlighting a significant purchase by insider Richard Colebatch, who bought AU$250k worth of shares at AU$0.007 each. This insider buying is seen as a positive indicator of confidence in the companys future, especially since no insiders have sold shares recently. Insiders own about 10% of the company, valued at approximately AU$1.2m. Despite the positive insider activity, the company is currently making losses, and there are risks associated with it, as indicated by six warning signs. Overall, the insider transactions suggest optimism about the companys prospects.
growth-negative
Way 2 Vat Full Year 2024 Earnings: US$0.004 loss per share (vs US$0.009 loss in FY 2023)
The article discusses the financial performance of Way 2 Vat, highlighting a revenue increase to US$3.01 million, up 47% from FY 2023. Despite this growth, the company reported a net loss of US$3.62 million, although this loss has narrowed by 15% from the previous fiscal year. The loss per share improved from US$0.009 to US$0.004. The companys share price remains largely unchanged from the previous week. The article also mentions that there are seven warning signs for Way 2 Vat, six of which are concerning, suggesting potential risks for investors.
Way2VAT earns patent for AI-Driven VAT reclaim system
Way2VAT secures A$1.1 million placement to accelerate current growth
opportunities for expanding product suite
growth-positive
Way2VAT to Acquire DevoluIVA
Automated VAT recovery provider Way2VAT has signed an agreement to acquire Barcelona-based corporate expense management and VAT recovery company DevoluIVA. The acquisition will allow Way2VAT to enter the Spanish market and expand into Latin American countries with similar domestic VAT structures. Way2VAT also plans to push its Smart Spend Debit Card through to DevoluIVAs merchant network, which includes 130,000 restaurants, taxis, gas stations and car parks. The initial consideration for the acquisition is €1 million in scrip via the issue of 11.76 million Way2VAT shares issued to DevoluIVA parent company Voxel.
AcquisitionExpand
Way2VAT receives $625,000 in funding highlighting its innovation in fintech
growth-positive
Israeli fintech co Way2Vat completes IPO in Australia
Israeli fintech company Way2Vat Ltd. has completed an IPO on the Australian Securities Exchange, raising A$7 million at a valuation of A$30.7 million. Way2Vat is the developer and operator of an automated, AI-based platform for filing VAT returns. The company has more than 180 customers, including Mastercard, EY Israel, Intel, and Amdocs. Way2Vats revenue is growing rapidly, with $1 million in 2020, up from $408,000 in the previous year. The company posted a loss of $2.8 million in 2020. Way2Vats significant shareholders include Poalim Capital Markets and the iAngels fund.
Public TradingCustomers
growth-positive
How to get your VAT refund overseas in a click
The article discusses the complicated and exorbitant fees associated with VAT refund schemes for tourists in over 50 countries. Israeli start-ups, such as Refundit, are offering digitized solutions to simplify the process and make it more convenient for tourists and business travelers. Refundit allows tourists to claim VAT refunds through a smartphone application, eliminating the need for paperwork and long lines at customs. The process involves taking pictures of receipts and uploading passport and boarding pass photos. The service is currently available in Belgium and will expand to other countries. The article also mentions VATBox and WAY2VAT, which provide automatic VAT solutions for business travelers. These start-ups aim to streamline the VAT refund process and increase the number of refunds claimed.
Customers
growth-positive
South Africa's Largest Bank Backs Invoice Scanning Startup
Tel Aviv-based startup WAY2VAT, which offers automated online management of VAT reclaims, has raised $5 million in funding. The investors include the Standard Bank of South Africa Ltd., Poalim Ventures Ltd., and Moneta Seeds. WAY2VAT plans to double its employee count and expand its research and development in Israel, as well as its marketing and sales in London and New York. The company aims to be the leading VAT reclaims service for organizations of all sizes.
InvestmentExpand
Way2Vat Team
Employee Info
| Employees (range) | 11-50 |
| Exact count | 46 |
| Team members | 3 |
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Way2Vat Internal
Recent Updates
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Admin Info
| Confidence | 92/100 |
| Missing | markets, not claimed |
| BI Verification | Natalia Golczar |
| Registrar ID | 515043982 |
| Crunchbase | way2vat |
| Phone | +97235080022 |
| Creator | Jenny Sotnik-Talisman |
| Creator email | genys30@yahoo.com |
| Last updater | Jenny Sotnik-Talisman |
| Updater email | jenny.sotnik@sncentral.org |
| Last update | 2023-07-03T00:00:00.000Z |
| Created | 2015-12-20T00:00:00.000Z |
| Status detail | Public on ASX on Sep, 2021; |