Gaocheng Capital announced its sole lead investment of hundreds of millions of RMB in EVAT MASTER and will continue to support its A+ round of financing. EVAT MASTER is the largest and fastest-growing one-stop online VAT declaration platform for cross-border e-commerce merchants in European markets. Being used for technological innovation, product iteration and talents pool upgrade, capital from this financing round will further enhance EVAT MASTER’s competitive advantages and accelerate digital transformation in the cross-border e-commerce sector.
600% annual growth and ~RMB2.5 billion cost savings for cross-border e-commerce merchants
The cross-border compliance industry, especially the VAT declaration sector, has historically been a black box with significant price disparities and fluctuating service levels. Cross-border merchants have suffered from limited access to overseas compliance information, creating a substantial gap in knowledge and resources.
That is where EVAT MASTER comes in. Since the first product launch in February 2020, eVM’s platform has completely transformed the declaration model and pricing system of VAT industry, sharing information and access like never before. With over 100,000 merchants and over 250,000 VAT numbers served, EVAT MASTER has achieved a 600% increase in user growth, solidifying its position as a market leader.
In terms of financial impact, based on pre-launch pricing of the SaaS platform, EVAT MASTER has contributed to a ~2.5 billion yuan cost savings in compliance expenditure of cross-border e-commerce merchants. This is a testament to EVAT MASTER’s business philosophy of achieving customer success and embracing change.
In summary, EVAT MASTER has revolutionized the VAT industry by providing cross-border merchants with the necessary resources and knowledge to succeed. With its unparalleled service quality and pricing, it is no surprise that EVAT MASTER has quickly become the go-to platform for VAT compliance in cross-border e-commerce. The core business philosophy of EVAT MASTER revolves around achieving customer success and embracing change.
Leading the industry revolution, defining the next decade of cross-border compliance
With a team of 120+ R&D IT experts, 100+ customer success professionals, and 50+ tax compliance specialists, EVAT MASTER has grown to 300+ employees. With years of profound understanding and experience in the cross-border compliance industry, the management team of EVAT MASTER emphasizes the importance of research and development, innovation, professionalism, and service excellence to optimize and iterate their products continually. In addition, unlike other compliance service providers, EVAT MASTER believes that only excellent products and services can impress and attract customers, generating positive word-of-mouth.
Jing Hong, Founding Partner of Gaocheng Capital, said, “Gaocheng Capital has long been paying attention to the innovation and compliance operations in the cross-border e-commerce sectorEVAT MASTER has won its customers by offering best-in-class SaaS solutions and transparent product pricing to cross-border e-commerce merchants. This investment is a strategic move for Gaocheng Capital in this field. After this financing round, Gaocheng Capital will continue to support EVAT MASTER to improve its product matrix, enhance its organizational capabilities, and empower more cross-border merchants to achieve efficient and compliant global operations.”
In the coming years, EVAT MASTER is committed to achieving full automation of compliance services, constantly exceeding its achievements, and shaping the future of cross-border compliance for the next decade. We invite you to join EVAT MASTER in leading the industrial revolution towards a better, more compliant future.
