Hurricane Modular Commerce Ltd has developed a duty and tax landed cost engine for use by online retailers.
With the volume of cross-border online retail increasing, e-commerce retailers face the problem of being able to display to prospective consumers the total cost of a purchase which includes cross-border shipping, customs duty and relevant taxation that may apply when importing/exporting online purchased items cross international borders.
The Company’s solution seeks to enable e-commerce retailers to accurately show the total cost to shoppers before purchase, with the Company suggesting that this could reduce current rates of cart abandonment and improve the conversion rate of purchase decisions on the part of the consumer.
|Technology Growth EIS
|Business Enterprise Software
|Aim of funding
|HMRC Advanced Assurance received
|Envisaged investor exit
|In excess of 4x capital invested