Pie Systems IVS
San Francisco, US · Founded 2019 · 53 employees on LinkedIn · 5 known investors
Pie builds platforms that support VAT refunds for merchants and tourists, with coverage across Europe and Asia. The company operates in the fintech and payments space.
Also known as Kabushiki Kaisha Pie Systems Japan · Pie Systems · Pie Systems ApS · Pie Systems Inc · Pie VAT
Founders & leadership
Pie Systems IVS was founded in 2019 by Sunny Long.
Investors · 5
Reported raises · per SEC filings
Form D private placements$1.6M disclosed across 1 round · 2020
▶$1.6MraisedAug 2020 · 8 investors · Other TechnologyRule 506(b)
- Dominic SheehyDirector
- Michael WalshDirector
- Brian YehDirector
- Sunny LongExecutive Officer, Director
- Offering amount
- $1.7M
- Amount sold
- $1.6M
- Minimum investment
- $10K
- First sale
- Jul 2020
- Incorporated
- Corporation, Delaware, 2019
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Pie Systems operates Pie VAT, a digital tax-free shopping service delivered as a mobile application and web platform that lets international travellers claim value-added tax refunds on purchases made at partner retailers. The service replaces manual paper refund forms with an app-based workflow: after checkout the store issues claim information, the shopper submits the claim and supporting photographs through the app, and verification and approval are handled digitally, with the company stating approvals are completed within hours. Travellers can track refund status in the app and receive payouts through several methods including bank transfer and credit card. Users are required to register, must be at least 18, and must confirm they reside outside the EU and intend to export the goods within three months of purchase.
On the merchant side, the platform provides point-of-sale integrations with commerce systems such as Shopify, Sitoo and Front Systems, a centralised dashboard for running campaigns, and app-based push notifications and in-store offers aimed at travelling shoppers. The corporate entity behind the service is Pie Systems Inc, headquartered at 717 Market St, San Francisco, with subsidiaries including Pie Systems ApS and Kabushiki Kaisha Pie Systems Japan. A Bloomberg company profile describes Pie Systems IVS as an application software developer offering a digitised VAT refund solution for stores and tourists, serving clients in Denmark.
Business model
Pie Systems positions its service as free for participating stores, with no setup fees, monthly charges or hidden costs, and instead takes a share of completed tax-free sales. Its merchant terms state that the company receives a small percentage of the VAT reclaimed through its system and reserves the right to pass on third-party costs such as payment processing fees and additional fees to the end user withdrawing the refund. Merchants are invoiced biweekly, with payment due no later than eight days after receipt.
Revenue is a commission taken as a small percentage of the VAT refunded through the platform, charged on completed tax-free sales rather than as fixed fees to merchants; third-party payment processing and withdrawal fees may also be passed on to the traveller receiving the refund.
Traction
The company states that more than 1 million shoppers use the Pie VAT app and that it has over 1,000 partner stores. The iOS app holds a 4.8 rating from roughly 7,900 ratings in the Travel category, and named retail partners include Helly Hansen and Les Deux, with point-of-sale partner Sitoo publicly describing an expanding relationship.
▸Full profile — market position, technology, go-to-market, geography, risks & controversies
Market position
Pie Systems presents itself as a digital alternative to traditional, paperwork-based tax free refund operators; app reviewers explicitly compare the service favourably with incumbent Global Blue, citing the avoidance of airport refund desks and customs-stamp queues. The company reports more than 1 million shoppers using its app and over 1,000 partner stores, and claims top-rated Trustpilot reviews within the tax free shopping industry.
Differentiation rests on an end-to-end digital claim process that removes paper forms and airport refund-desk queues, automated verification with approval stated to occur within hours, no fees for participating stores, multiple payout options, and merchant-facing tourism marketing tools such as push notifications and campaign dashboards layered on top of the refund service.
Technology
The service is built around a proprietary VAT refund system covering the workflows, processes and software behind claim submission, verification and approval, which the company asserts as its intellectual property. It is delivered through iOS and Android consumer applications and the piesystems.io and pievat.com websites, and is described as an AI-powered digital platform that automates verification and approval in place of paper forms. Refund submissions rely on uploaded photographs, and user reviews note that GPS coordinates are captured with the photo as evidence that goods were exported. Merchant-side integrations connect to point-of-sale platforms including Shopify, Sitoo and Front Systems.
Go-to-market
The company recruits merchants with a no-cost, commission-only proposition and easy point-of-sale integrations, then reaches shoppers directly through its consumer app, which is promoted via partner stores, in-app store discovery, push notifications and in-store offers. It publishes country-by-country tax free shopping rules, case studies and blog content, and cites customer reviews and Trustpilot ratings as evidence of service quality.
Two connected groups: international travellers and tourists shopping outside their region of residence who are eligible to reclaim VAT, and retailers and store chains serving those visitors, including apparel and outdoor brands such as Helly Hansen and Les Deux.
Geography
The company is headquartered in San Francisco and operates through subsidiaries in Denmark (Pie Systems ApS) and Japan (Kabushiki Kaisha Pie Systems Japan). Its site organises tax free shopping guidance around Europe and Japan and lists rules for markets including Denmark, Norway, Germany, Poland, Iceland, Sweden, Portugal, Finland, the Netherlands, Greece, Spain and Japan; traveller reviews reference use in Norway.
Risks & controversies
User feedback on the consumer app is mixed: alongside positive reviews, a reviewer described a lengthy and repetitive claim process requiring the same information to be submitted at the store, by email and to a customs representative, difficulty locating support messaging, and inaccurate email links, concluding that persistence was needed to obtain a refund. The business is also dependent on national VAT refund rules and customs export verification requirements across the multiple jurisdictions in which it operates.
Compiled by commissioned research from 6 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 7
by search overlap
Companies competing with Pie Systems IVS for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 2
launches, deals, and filingsRetailers Helly Hansen and Les Deux are cited as merchant partners using Pie VAT's digital tax free solution.
Pie VAT offers point-of-sale integrations with platforms including Shopify, Sitoo and Front Systems so merchants can offer tax free shopping; Sitoo co-founder and CEO Jens Levin describes an ongoing partnership with Pie VAT.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 6
primary sources listed
- Pie Systems IVSpievat.com · web
6 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Pie Systems IVS do?
- Pie Systems runs Pie VAT, a digital tax-free shopping platform that automates VAT refunds for tourists and retailers.
- Who founded Pie Systems IVS?
- Pie Systems IVS was founded by Sunny Long in 2019.
- Who are Pie Systems IVS's investors?
- Pie Systems IVS's investors include Digital Garage, New Commerce Ventures, Open Network Lab, Context Ventures, Dreamcraft.
- How much funding has Pie Systems IVS raised?
- Pie Systems IVS has disclosed $1.6M raised across 1 round.
- Where is Pie Systems IVS headquartered?
- Pie Systems IVS is headquartered in San Francisco, US.