utu is a travel technology company with a mission to transform the global travel experience for tourists by introducing them to a world of rewards and higher VAT and GST tax refunds, so they can get the best value out of their trips.
Far more than just digitizing the process, utu re-engineers the broken tax refund industry to finally put the customer first. By integrating tax refunds with the rest of the travel ecosystem, utu bridges the worlds of refunds and rewards, and unlocks new value in the form of points from retailers, airlines, hotels, restaurants and many more.
utu allows global shoppers to upsize the refunds from any refund operator across 50 countries taking part in the tax-free shopping scheme, including France, Italy, Germany, Singapore, South Korea and the UAE. Shoppers simply download the utu Tax Free app and fill in their details to receive a utu Tax Free Card. By directing their refund to their card, sums can currently be upsized by 5% in cash or 25% in Frequent Flyer Miles. Emirates Skywards members are already able to take advantage of utu upsize rewards, whilst 12 additional major airlines are set to be onboarded by the end of 2021. Over time, the reward ecosystem will expand considerably.
Founded in 2016, utu is a technology company with a unique travel industry heritage, steeped in tax-free shopping domain knowledge. The company’s leadership was pivotal in growing and selling the two leading refund operators to their current owners when that business model was still relevant.
utu is headquartered in Singapore and has offices in France, Italy, Thailand, South Korea and India.
For more information, visit https://www.utu.global.
Location: Italy, Lombardy, Milan
Employees: 501-1000
Total raised: $33M
Founded date: 2016
Funding Rounds 1
Date | Series | Amount | Investors |
29.06.2023 | Series B | $33M | SC Venture... |
Mentions in press and media 15
Date | Title | Description | Source |
07.12.2023 | Rewards Beyond Borders: utu and Enrich, the Loyalty programm... | Partnership boosts tax refunds by up to 40% for Malaysia Airlines' frequent flyers KUALA LUMPUR, Ma... | en.prnasia... |
30.08.2023 | utu and TAP Miles&Go Partner to Bring 'Upsized' Tax Refu... | SINGAPORE, Aug. 30, 2023 /PRNewswire/ -- utu, a Singapore-based travel-tech company, today announced... | en.prnasia... |
29.06.2023 | utu Closes US$33 Million Deal, Acquires SC Ventures-Incubate... | SINGAPORE, June 29, 2023 /PRNewswire/ -- The Singapore-based travel-tech company utu today announced... | en.prnasia... |
27.06.2023 | Singapore-based Utu raises USD 33 million in Series B | Singapore-based travel tech company helping flyers get more out of their tax-free shopping, Utu rais... | vcbay.news... |
25.06.2023 | UTU raises $33M to help travelers get more from tax-free sho... | Utu, a travel tech company that helps flyers get more out of their tax-free shopping, announced toda... | techcrunch... |
24.06.2023 | SG travel firm raises funds from SC Ventures, buys CardsPal | AcquisitionsInvestmentsNews Deepti Sri · 26 Jun 2023 · 1 min readSG travel firm raises funds from S... | techinasia... |
21.09.2022 | utu and Etihad Guest Partner to Bring Extra Rewards to Etiha... | The utu and Etihad Guest partnership will allow travellers who intend on discovering the world to ge... | en.prnasia... |
01.08.2022 | utu Invites Users to Discover Flying Blue with New Partnersh... | utu and Air France-KLM partnership gives more choice to travellers to earn rewards as they shop tax-... | en.prnasia... |
26.07.2022 | utu further Revolutionizes Global Tax-Free Shopping and reve... | SINGAPORE, July 26, 2022 /PRNewswire/ -- utu, the global travel-tech company headquartered in Singap... | en.prnasia... |
22.06.2022 | utu Launches Membership Programme to Reward Your Tax Refunds | Elite utu members can enjoy 30% more on their tax refunds and US$1,250 worth of welcome bonus utu mi... | en.prnasia... |
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