TRAVEL EASY Receives USD 20 Million Funding from Haitong International

FRANKFURT, Germany, Sept. 26, 2019 /PRNewswire/ -- TRAVEL EASY announced the completion of a new round of USD 20 million funding from Haitong International. EACH Capital acted as the exclusive financial advisor. Earlier, TRAVEL EASY had received millions of dollars in financing from PAGODA.

TRAVEL EASY has set up multiple oversea branches, including Frankfurt, Prague, Milan, Beijing and Wuhan. After this round, TRAVEL EASY will quickly grow into a comprehensive global shopping service platform featured with digital tax refund service.

New features for the European market

China is already the world's largest outbound travel market and the main driving force for the growth of the global outbound travel market. According to Dr. Prof. Dai Bin, Dean of China Tourism Academy, the size of China's outbound tourism market and consumer spending in 2018 reached another record high, with nearly 150 million people spending over 120 billion US dollars.

Tax free is an effective tourists spending incentive, but it is not perfect. TRAVEL EASY released WeChat mini-program "TuiDuoDuo" with three core features: latest information from popular merchants, auto-filling information, real-time refund tracking. By providing a safe and convenient tax-free shopping experience, TRAVEL EASY has entered the trillion-dollar market in Europe.

One-stop service platform with tax refund

TRAVEL EASY connects users and merchants before, during and after the journey with "shopping + tax refund" services, providing a full-scenario closed-loop marketing services for merchants.

At present, the platform has partnered with top Chinese travel companies, well-known department stores, airport retail groups and international brands in Europe, including Galeries Lafayette, GALERIA Kaufhof, Leica, MCM, Swarovski, Botanicus and more. By integrating China and Europe's resources, TRAVEL EASY has constructed an ecosystem that connects shopping tourists, overseas merchants, travel agencies and tour guides.

Further reforming European retail business

By the end of 2019, TRAVEL EASY will launch the PRE-ORDER e-commerce service, allowing travelers to purchase more 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 online business.

TRAVEL EASY also plans to remove the time limit , create an industrial supply chain of cross-border goods, and drive the distribution of goods with consumption big data. TRAVEL EASY will connect European retailers with Chinese purchasing power, and advance Europe's retail reform.