Moneta Seeds announced today the closing of its investment in Global travel expense & International VTA startup, – Way2VAT. WAY2VAT (www.way2vat.com) is revolutionizing enterprise’s travel expense management and automated VAT reclaim platform. VAT reclaim is still a largely a bureaucratic process. Because of this, many companies choose to not pursue VAT reclaims, leaving $20B in unclaimed business refunds annually.vWAY2VAT is developing a B2B2E platform that employs patent pending mobile-cloud-ERP technologies to automate the business travel expense.
Moneta’s investment followed the evaluation of Way2Vat by a fortune-100 company that has recently signed a strategic pilot agreement with Wa2VAT.
As part of the investment, Moneta manager – Adoram Gaash, has joined the Board of Directors.