Travel Easy, a German service platform for cross-border shopping, raised $20m in funding.
Haitong International made the investment.
The company intends to use the funds to expand globally.
Travel Easy provides a global shopping service platform that features a built-in digital tax refund service. The platform provides tourists with shopping options that match their travel routes, as well as merchant offers. It connects users and merchants before, during and after the journey with “shopping + tax refund” services. At the same time, it also provides a marketing services for merchants, which can reverse the flow, and increase customer satisfaction and spending.
At present, the platform has partnered with top Chinese travel companies, department stores in Europe, airport retail groups and international brands, including Galeries Lafayette, GALERIA Kaufhof, Leica, MCM, Swarovski, Botanicus and more.
By the end of 2019, the company will launch the pre-order e-commerce service, which allows travelers to purchase popular products from other European countries that are not part of their trip. Pre-order will remove the location restriction of travel shopping and help merchants expand their business online.
It has set up many branches around the world, including Frankfurt, Germany, Beijing and Wuhan in China, Prague, Czech Republic and Milan, Italy.