Prestige 40 Under 40 2020: Ameer Jumabhoy

Ameer Jumabhoy

31, Co-Founder of UTU

A familiar face in the social circuit in his youth, Ameer has gone on to read political science at Rice University in Houston, and obtained an MBA at the Massachusetts Institute of Technology. Together with his father, Asad Jumabhoy, a VAT refund industry veteran, he launched UTU in 2015 with a mission to address the inflexibility of existing loyalty and rewards systems in which tourists are unable to redeem benefits when travelling overseas.

The UTU Tax Free app allows for cross-border rewards in the tax-free shopping world. Tourists can now choose the best VAT refund option, customised to their preference, and also claim more than what was traditionally possible with a manual, paper-based process.

Ameer had pioneered the company’s iOS/Android app, which is now in its second release. He is also overseeing app development on the WeChat platform for China customers as well as an app for partners to run transactions and reap full benefits without additional hardware. Currently concentrating mainly on Europe, this Singapore-based firm is also looking to expand into Asia and merge cross-border rewards and tax-free shopping sites into a multi-service tourist platform.