How much did Utu raise?

Utu raised $35 Million in a Funding Round round on June 26, 2023.

Who are the decision-makers at Utu?

Fundz holds 1 contact at Utu. Names and contact details are shown to Fundz members.

Utu Raises $35M To Help Travelers Get More From Tax-Free Shopping

PRIVATEJun 26, 2023

Amount Raised

$35 Million

Round Type

Funding Round

SingaporeHospitalityTravelE Commerce

Description

Utu, a travel tech company that helps flyers get more out of their tax-free shopping, announced today it has raised a $35 million Series B led by SC Ventures. Part of the funding was used to acquire CardsPal, a Singapore-based fintech that offers deals and promotions nearby to users.

Quick answer

Utu raised $35 Million in a Funding Round round, dated June 26, 2023. Utu is based in Singapore, Southeast Asia, Singapore.

How much did Utu raise?: Utu raised $35 Million in a Funding Round round on June 26, 2023.
What does Utu do?: utu is a travel technology company with a mission to transform the global travel experience for tourists.
Where is Utu based and how big is it?: Utu is based in Singapore, Southeast Asia, Singapore.
Who are the decision-makers at Utu?: Fundz holds 1 contact at Utu. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Hospitality and Travel around the same time

Companies in the same sectors as Utu that raised within 45 days of this round, from Fundz verified event records.

Atmosfy raised $12M (Funding Round) on August 9, 2023.
Go Rentals raised an undisclosed amount on July 10, 2023.
Sojern raised $9.8M on July 1, 2023.
Foodomarket raised $12M (Funding Round) on June 8, 2023.
GetYourGuide raised $194M (Funding Round) on June 1, 2023.
Yuvod raised $4.3M (Seed) on May 23, 2023.

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Company Information

Company

Utu

Location

Singapore, Southeast Asia, Singapore

About

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 with higher VAT and GST tax refunds, they can get the most 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 be upsized by 5% in cash or 25% in Frequent Flyer Miles. Members from 9 major airlines and 1 hotel chain are already able to take advantage of utu upsize rewards. 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 knowledge. The company’s leadership was pivotal in growing and selling the two currently-leading refund operators to their present owners, when that business model was still relevant. utu is headquartered in Singapore and has offices in France, Italy, Thailand, and India. For more information, visit https://www.utu.global.

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Utu raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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