Woonivers
First digital tax-free shopping solution for travellers and businesses alike.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
| EUR | 2023 | 2024 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 100221 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| % profit margin | (576452 %) | (262 %) |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Company filings or news article
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Woonivers operates as a financial technology company specializing in tax-free shopping services. Founded in 2018 by Abel Navajas and Antonio Cantalapiedra, the Madrid-based firm developed a digital platform to simplify the value-added tax (VAT) refund process for non-European Union residents shopping in Spain and other EU countries. Antonio Cantalapiedra, co-founder and CEO, aimed to create a technological alternative to the bureaucratic and often inefficient traditional tax refund systems.
The company's primary offering is a mobile application available for both iOS and Android devices. This app allows international travelers to digitize the entire VAT refund process. Users can scan their purchase receipts, which generates a digital document. Upon departure from the EU, travelers validate their refund requests at airport kiosks, such as Spain's DIVA machines, by scanning a QR code from the app. This eliminates the need for paper forms and long queues. The service is free for shoppers, and the refund is transferred directly to the user's chosen account after customs validation. The platform serves tourists from outside the EU and retail businesses in Spain, with expansions into Belgium and plans for France, Italy, and Portugal.
Woonivers secured a total of $1.7 million in funding over two seed rounds, with the latest in February 2020 led by OneRagtime and also involving Encomenda. In a significant milestone, Sipay, a Spanish payment gateway, acquired a 75% majority stake in the company on January 12, 2023. This acquisition is part of Sipay's strategy to integrate tax-free services with its digital payment and point-of-sale software solutions, aiming to capture a larger share of a global tax-free market estimated to exceed €51 billion.
Keywords: VAT refund, tax-free shopping, fintech, mobile application, travel technology, digital tax refund, tourist refunds, retail technology, Sipay, Abel Navajas, Antonio Cantalapiedra, European Union VAT, airport customs, digital payments, point-of-sale integration, travel retail, financial software, shopper technology, cross-border shopping