Less than three years after securing more than £3.5 million through its first equity crowdfunding campaign, UK-based parking innovator JustPark has returned to Crowdcube and is looking to raise £1.5 million.
As previously reported, JustPark was founded by entrepreneur Anthony Eskinazi and is seeking to lead the disruption of the £50 billion global parking market by allowing its customers to book off-street parking spaces online wherever and whenever they need them. Since its debut, the company has over 650,000 registered users and over 150,000 parking spaces. It is backed by BMW (since 2011) and international venture capital firm Index Ventures (since 2014). The company shared:
“We help 1.5 million registered drivers find parking in seconds – with real-time information on availability, restrictions and price for 1.4 million spaces. Drivers can even reserve and pay for a guaranteed space at 20,000+ locations via our award-winning apps.”
JustPark also revealed that following its world-record raise in 2015, it has notably driven growth in two key ways, by building 5 star rated apps and innovative car park technology (winner of a British Parking Award). The company then stated:
“On the driver side, 380% more people park using JustPark now vs. our last raise (apps are up 105% in the last 6 months alone) and our products are used over 1 million times each month.”
All funds from the latest crowdfunding campaign will be used to continue JustPark’s expansion. The initiative so far has raised more than £1 million from nearly 400 investors. An institutional investment of £700,000 in total, made by Index Ventures and LocalGlobe and the progress bar on the campaign shows the investment. The campaign is currently set to close at the end of December.
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