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ZappTax
Company
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Belgium
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About your organization
Product: company launched in 2017 an app-based tax-free shopping solution to simplify the tax refund experience of travelers coming to the EU.
Market: 110 million non-EU residents traveling yearly to the EU, yet due to inefficiencies, less than 15% make use of scheme.
Value proposition: seamless 3-step tax refund claims on all purchases in all stores in France, Spain and Belgium with 24/7 flexible customer support.
Pandemic impact: in 2019 ZappTax launched a tax refund scheme for EU-outbound e-commerce transactions (50% of turnover in 2020).
Source of revenue: commissions levied on the amount refunded to travelers (20% of VAT with average per transaction of 30€).
Current marketing focus: 2 m French and 300 k Belgian expats residing outside of the EU.
Financials: turnover doubled in 2020 to 600€K (overall market lost 90% of its volume in 2020!). Pandemic-conservative FY21 forecast of 900€K (50% traveler / 50% parcels).
Next steps: increase speed.
Sought: 5m€.