Unlocking a US$239bn Market with AI-Powered Tax Tech

Way 2 Vat Ltd (ASX:W2V) is a one-stop shop for indirect tax management for companies. They serve over 560 global enterprise clients and are growing. W2V serves major brands like TikTok, BASF, JLL, Henkel, and Trafigura. W2V's software is protected by seven patents covering AI, optical character recognition (OCR), and natural language processing.

Strategic Drivers & Future Catalysts:

• Strategic Shift Beyond Reclaim: Way2VAT is expanding from a single-product, VAT reclaim platform into an integrated service platform, "The Four Pillars Strategy" targeting a combined US$239bn addressable market.

• More predictable revenue streams are becoming a proportionately larger part of total revenue, up from a low-single-digit percentage 18 months ago to close to 40% according to management.
• Way2Invoice launch: Launched in mid-2026, Way2Invoice gives them timely exposure to the introduction of government e-invoicing mandates across Europe and APAC.

Fig 1: A compound quarterly growth rate of +8.2%, Q1'21-Q2'26

Source: Homodeus research