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- On Monday, Way2Vat (W2V) entered a trading halt in regards to an upcoming capital raising
- So far, it is not known how much the company is aiming to raise or where the funds will be used
- Company shares will be paused until Wednesday, June 8 or when a further announcement about the raise is released to the market
- W2V is an Israel-based technology company that provides a fully automated end-to-end value-added tax reclaim solution
- W2V shares last traded at 5.9 cents on June 6
On Monday, Way2Vat (W2V) entered a trading halt in regards to an upcoming capital raising.
It is not known to the market how much the company is aiming to raise or where the funds will be used.
The halt means company shares will be paused until Wednesday, June 8 or when a further announcement about the raise is released to the market.
W2V is an Israel-based technology company that provides a fully automated end-to-end value-added tax reclaim solution.
Earlier this year, the company partnered with Railsbank to launch the world’s first Smart Spend Debit Mastercard, which fully automates VAT/GST returns.
The card allows companies to submit spend receipts and capture invoices through its proprietary technology platform.
W2V said this new technology is an end-to-end process from capture of the receipt through to payment that automatically analyses, reconciles, sorts and submits documentation to foreign tax authorities.
This means, employees can spend their allocated amounts and the VAT/GST is automatically submitted with all relevant administrations completed.
On the market, W2V shares last traded at 5.9 cents on June 6.
