VATBox, a UK-based provider of automated VAT recovery and governance solutions, closed $24m financing round.
The round was led by Viola Private Equity with participation from existing private investors.
The company intends to use the funds for its growth plans, accelerating its expansion in the VAT recovery and governance market.
Founded in 2013 by CEO Isaac Saft and President Noam Guzman, VATBox provides a cloud-based data driven solution that aims to replace current, ad-hoc manual VAT recovery processes to ensure that any cross border or unstructured VAT paid by the client will be captured, qualified, evaluated and recovered automatically.
The company operates in many countries worldwide and is currently focused on expanding its presence in existing and new markets.
It has a team of 60 employees, and hundreds of multinational clients.