JustPark has broken a funding record on Crowdcube. The App company has captured over 2400 investors attracting 3x more backers than any other offer in Crowdcube’s history. JustPark, a company that already lists BMW and Index Ventures as early investors, had sought a funding round in the amount of £1 million but easily passed that mark and stands over £1.7 million today. JustPark has experienced an average investment of £700. The largest investment to date has been £70,000. JustPark is the 200th business to fund on the UK’s largest investment crowdfunding platform. The offer captured global interest with individuals participating from the around the world. The offer is said to be open for a few more days and may challenge the largest funding round on Crowdcube which was Hab Housing that raised £1.95 million back in 2013.
JustPark (formerly ParkatmyHouse) has been in operation since 2006. The company connects drivers in need of convenient and affordable parking with property owners who want to earn money from renting out their underused parking space. JustPark works with both large car parks and individual spaces. One UK Church in Islington is said to have generated over £180,000 using the App.
The new funding will be used to grow its community of users both in the UK and around the world. The App is described as bing the worlds first in-car App that allows drivers to manage the entire parking process from the automobiles dashboard. Development of the technology occurred in collaboration with BMW.
“Just like we are revolutionising the finance market, JustPark is disrupting the £50 billion global parking market by letting drivers book off-street parking spaces online wherever and whenever they need them. It’s great to see our community of 140,000 registered investors getting an opportunity to invest alongside leading venture capital firms like Index Ventures and BMW i Ventures”, said Crowdcube co-founder Luke Lang.
“We are hugely excited to offer our existing users and members of the public the chance to claim a stake in JustPark’s future growth, particularly given that our business is all about collaboration. We are operating at the heart of the sharing economy, with our customers providing each other with the solution to the parking headache by opening up their underused parking spaces to drivers. This crowdfunding round will allow us to work together with our most passionate users to build the business to greater heights.”
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