Travel Tax-Free

What Travel Tax-Free does

Travel Tax-Free (TRAVEL TAX FREE S.L.U.) is a privately held Spanish financial services company headquartered in Madrid that provides VAT refund processing solutions for non-EU travelers shopping in Europe. The company was authorized by the Spanish Ministry of Finance in April 2014 as a collaborating entity for VAT refunds under the traveler regime, giving it a regulated license to operate as a tax free intermediary in Spain. It operates a two-sided platform: a merchant-facing issuance system that enables retailers to issue tax free forms at point of sale, and a tourist-facing refund infrastructure that validates and disburses refunds across multiple channels.

The company's technology stack includes the Tax Free APP for merchant POS issuance, a standalone Dataphone terminal with automatic passport reading, a web-based issuing solution, and integrations with major ERP and POS platforms (Sage, Shopify, ICG, PHC, XD Software, Zone Soft, Castor Retail, Teinor). On the tourist side, the TravellerWallet mobile application provides digital wallet management, QR code validation, and multi-channel refund disbursement, while the DIVA (Spain) and E-TaxFree (Portugal) electronic kiosks automate customs validation at airports and borders. The platform supports five languages (English, Spanish, Portuguese, Russian, Chinese) and integrates with merchant POS/invoice systems for real-time tracking.

Travel Tax-Free operates on a free-to-merchant, fee-to-tourist business model. Merchant services (APP, dataphone, web, integration) are provided at no cost, with revenue generated through transaction-based rebates tied to volume. Tourists pay a statutory processing administration fee deducted from their VAT refund, plus FX margins of 3-5% on non-EUR currencies, up to EUR 0.99 for credit card refunds, and additional local charges for cash refunds at refund points. The company also generates revenue from professional services including customized accounting, electronic invoicing, SII/SAFT compliance, and tax advisory for merchants. The refund point network extends across Spain, Portugal, Andorra, France, Italy, the Netherlands, Belgium, the UK, Morocco, Turkey, and China, primarily through channel partnerships with currency exchange operators including Global Exchange, Unicâmbio, Novacâmbios, Changegroup, Eurochange, and MONEYCORP.

Name

Travel Tax-Free

Legal name

TRAVEL TAX FREE S.L.U.

Website

https://traveltaxfree.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

Travel Tax-Free is a Spanish financial services company that provides VAT refund processing solutions for non-EU travelers shopping in Europe, offering digital tax free form issuance for merchants, electronic kiosk validation, and multi-channel refund disbursement across Spain, Portugal, and other EU markets.

Ownership category

akta.pro rank

Product category

Tax Refund Services

akta.pro primary industry

VAT/GST Tax Recovery & Receipt Compliance (THACADAF)

akta.pro secondary industries

Tax, VAT/GST & Invoicing Compliance for Travel Transactions (THALAHAL), Alternative Payments & Digital Wallet Acceptance (A2A, RTP, wallets) (THALAHAH)

Keywords

• VAT refund services
• Tax-free shopping
• Merchant refund solutions
• Electronic tax validation
• Cross-border VAT processing

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Service Fees from Tourists: Travel Tax-Free charges a statutory processing administration fee deducted from the VAT refund amount. Additional local charges apply for cash refunds at refund points. Credit card refunds may incur up to EUR 0.99 fee. Foreign exchange conversions include a 3-5% margin.
2. Merchant Services (Free with Rebate Program): Core services are offered free to merchants. Revenue is generated through transaction volume and transaction-based rebate programs where merchants receive benefits as they process more tax free transactions.
3. Financial Solutions for Merchants: Customized accounting and tax advisory services, electronic invoicing, and balance adjustment services for merchants. SII (AEAT) and SAFT (AT) compliance solutions included.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

Travel Tax-Free provides VAT refund processing services to EU-based merchants (free tax-free form issuance tools, integrations with POS/ERP systems, and merchant financial/accounting solutions) and to non-EU tourists (mobile wallet app, electronic validation kiosks at airports/borders, and a network of cash refund points across Spain, Portugal, and other markets). Revenue is generated primarily through statutory processing administration fees and FX margins deducted from tourist VAT refunds, with free merchant services monetized via transaction volume and volume-based rebate programs.

Product overview

Travel Tax-Free operates as a financial services platform offering VAT/Tax Free refund solutions across Spain and Portugal, with operations expanding to Andorra, France, Morocco, Turkey, UK, China, Japan, Singapore, and South Korea. The platform architecture consists of merchant-facing issuing solutions (Tax Free APP, POS Stand Alone, Web Solution, and Integration Solution) that enable retailers to issue Tax Free forms at point of sale, combined with refund processing solutions (Standard Tax Free and Advance Refund) that handle VAT refunds for non-EU travellers. The TravellerWallet mobile application serves as the customer-facing component for managing and receiving refunds. Backend services include Financial Solutions for merchant accounting/advisory and Payment Solutions offering multiple refund disbursement channels including Alipay and WeChat Pay for Chinese tourists. Electronic validation is handled through DIVA kiosks (Spain) and E-TaxFree kiosks (Portugal) at airports and borders.

Differentiator

Problem solved

Functional benefit

Brands

• TravellerWallet: Mobile application for travelers to manage tax free forms, validate refunds, and receive payments digitally
• Tax Free APP
• Standard Tax Free
• Advance Refund

Products and services

• Tax Free APP

Named customers12 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Global ExchangecoreChannel Partner/ Reseller/ DistributorMajor international currency exchange and refund service provider operating at airports and cities across Spain, Portugal, France, Morocco, Turkey, and UK. Provides physical refund point locations and cash handling services for Travel Tax-Free customers.
• UnicâmbiocoreChannel Partner/ Reseller/ DistributorPortuguese currency exchange and refund service operator with extensive network across Portugal including airports, shopping centers, and city locations. Provides cash refund services at Portuguese locations.
• NovacâmbioscoreChannel Partner/ Reseller/ DistributorPortuguese currency exchange network operating refund points in shopping centers and cities across Portugal including NorteShopping, Colombo, Cascai Shopping, and others.
• ChangegroupminorChannel Partner/ Reseller/ DistributorUK-based currency exchange company operating at Spanish locations including Madrid city center and Barcelona La Rambla area for tourist refund services.
• EurochangeminorChannel Partner/ Reseller/ DistributorCurrency exchange operator providing refund services at Spanish locations including Valencia, Seville, Barcelona, Malaga, and various coastal resort areas.
• MONEYCORPminorChannel Partner/ Reseller/ DistributorInternational currency specialist operating refund services at UK locations including London Gatwick and Stansted airports.
• SAGEcoreTechnology or IntegrationAccounting software integration partner allowing Travel Tax-Free form issuance to be integrated with SAGE accounting and business management platforms.
• ShopifycoreTechnology or IntegrationE-commerce platform integration allowing Shopify merchants to issue Travel Tax-Free forms directly from their online store operations.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Global Blue Group: Global Blue is the world's leading tax-free shopping operator, offering VAT refund processing and merchant acquiring across 50+ countries. It is the most direct competitor to Travel Tax-Free in the Iberia and broader EU market.
• Planet (Fintrax): Planet acquired Fintrax to become one of the largest integrated tax-free shopping and payment processors in Europe. It competes head-on with Travel Tax-Free for merchant acquiring and refund disbursement.
• Tax Refund (Italy): Tax Refund is an Italian-based VAT refund operator serving merchants and tourists across Europe. It competes with Travel Tax-Free in the broader EU tax-free shopping category, particularly via its merchant network.
• Tax Free Worldwide (Innovative Technology): Tax Free Worldwide operates VAT refund services for cross-border shoppers across Europe and Asia. It is a comparable peer given its tax-free processing model and tourist validation flow.
• Eurax (formerly Travelex Refund Services): Eurax is a European tax-refund operator (spun out of Travelex) providing VAT refund and currency exchange services at airports and city locations. It directly overlaps Travel Tax-Free's airport and city refund point model.

Emerging players

• Moneycorp: Moneycorp is a UK-listed currency specialist operating refund desks at airports (e.g., Gatwick, Stansted — partner of Travel Tax-Free). Comparable as a regional/emerging player in tax-refund disbursement adjacent to Travel Tax-Free's UK corridor.
• Wise: Wise provides low-cost cross-border currency movement and multi-currency accounts used by travelers. Comparable on the FX/multi-currency disbursement side of Travel Tax-Free's refund payment workflow, though not a direct tax-free shopping competitor.

Broad incumbents

• Travelex: Travelex is a global currency exchange and international payments incumbent that has historically bundled tax-refund services as part of its broader FX and remittance offering. Comparable as a broader incumbent in the travel financial services category in which Travel Tax-Free operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• Xx.com/traveltaxfree
• LinkedInlinkedin.com/company/travel-tax-free

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Travel Tax-Free