Wevat Tax Refund

Wevat offers a digital solution for travelers to reclaim Value Added Tax (VAT) on purchases made in France. Founded in 2016 by Raphael Chow, the company aims to simplify the traditionally complex and paper-based tax refund process for tourists. Chow, an Oxford University graduate and former Deloitte strategy consultant, was inspired to create a more efficient system after observing the cumbersome nature of existing refund methods. His background, spanning Hong Kong, Canada, and the UK, provided a global perspective on the challenges faced by international shoppers.

The company operates on a business-to-consumer (B2C) model, directly serving non-EU residents over the age of 16 who are traveling in France. Wevat's revenue is generated from a single, transparent service fee of 22% deducted from the successful VAT refund, a structure that often results in a higher net refund for the user compared to traditional providers. The business model removes the commissions that retailers typically earn from partnering with conventional tax refund agencies, allowing for a greater portion of the VAT to be returned to the consumer.

The service is delivered through a mobile application that digitizes the entire refund journey. Users download the app and, instead of requesting traditional tax-free forms at the point of sale, they ask for a business invoice (facture) made out to Wevat. A key benefit is that shoppers only need to reach a cumulative spending total of €100 across all their purchases during their trip, rather than a minimum spend at each individual store. Shoppers then upload photos of these invoices to the app, which consolidates the purchases and generates a single digital refund form. Upon departure from France, the user scans a barcode from the app at a customs kiosk (PABLO) to validate the refund. Wevat handles the backend process and sends the refund to the user in their chosen currency via methods like credit/debit card, bank transfer, Alipay, or WeChat Pay.

Initially launched to serve international travelers in the UK, Wevat pivoted its focus to UK residents shopping in France following Brexit and the UK government's decision to end the VAT Retail Export Scheme. The company has successfully raised capital from investors including Entrée Capital, firstminute Capital, and Sweet Capital. Since its service launched, Wevat has assisted travelers from 88 countries with refunds on millions of euros in shopping. The platform also provides in-app customer support to guide users through the process. Keywords: VAT refund, tax-free shopping, France tourism, travel finance, fintech app, digital tax refund, tourist savings, retail export, consumer finance, mobile payments, VAT reclaim, travel tech, shopping in France, PABLO kiosk, invoice management, cross-border shopping, tax rebate, digital customs, non-EU resident shopping, travel money