Parkmobile secures USD6.3m financing to fund growth in global market

Secured strategic investment

Parkmobile, global provider of mobile payment solutions to municipalities and parking providers, has announced that it has closed an USD6.3m financing led by its current investors BCD Holdings, Parkmobile Group, Fontinalis Partners and Bluefield Investments. Parkmobile intends to use the additional funding to build on its considerable momentum to date and further increase its leading global position.

The firm’s mobile payment system allows motorists to pay for parking through an application on their mobile phone, eliminating the need to carry change, predict their length of stay and continually feed the meter.  Since becoming the first company to introduce mobile apps for parking in the U.S. in 2009, Parkmobile has expanded its footprint to over 400 cities worldwide.

Joop Drechsel , chairman of the Supervisory Board of Parkmobile: “This investment is a validation of Parkmobile’s achievements and represents a significant endorsement of our future growth potential in the U.S. and abroad.”

“ Our rapidly growing member base appreciates Parkmobile’s innovation, which has led to the recent addition of new payment options including PayPal and the Parkmobile Wallet, a stored value solution created through a partnership with Citibank,” said Cherie Fuzzell , CEO of Parkmobile.

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