Exhibit 21.1

Company	Country of Incorporation
Global Blue SA	Switzerland
Global Blue Italia S.r.l.	Italy
Global Blue Group AG	Switzerland
Global Blue TFS Japan Co., Ltd.	Japan
Global Blue (UK) Ltd	United Kingdom
Global Blue New Holdings Germany GmbH	Germany
Global Blue France	France
Currency Select Pty Limited	Australia
Global Blue España SA	Spain
Global Blue Holland BV	The Netherlands
Global Blue Austria GmbH	Austria