Less than two years after securing more than £2.6 million in funding through its previously Crowdcube campaign, UK-based parking innovator JustPark has returned to the equity crowdfunding platform and has already raised more than £5.8 million from nearly 3000 investors.
As previously reported, JustPark was founded by entrepreneur Anthony Eskinazi and is looking 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 launch, JustPark has more than 650,000 registered users and over 150,000 parking spaces. The company raised over £3.5 million from more than 2,700 investors through its first Crowdcube campaign in 2015.
“At JustPark, we recognise the parking challenges facing drivers and acknowledge the transport and congestion issues that our cities need to tackle. We believe we have solutions to these problems. We are active in every major city in the UK and our award-winning platform has been adopted by 20 local authorities and many parking operators, hospitals and universities – helping us grow by an average of 110,000 users per month since Sept 2018 (185,000 in August 2019).”
JustPark also reported that outside of this core business, it has entered into the “revolution underway” in the mobility space, with electric vehicles and personal mobility transportation attracting £100 of billions in investment across the globe.
“With a very low cost of space and customer acquisition, JustPark are building distributed networks that new mobility solutions need in order to accelerate adoption.”
JustPark went on to add that the latest campaign’s funds will be used to accelerate its core business, expand into new markets and explore its role in the future of mobility. Through the campaign, JustPark is offering 6.85% in equity at an £80 million pre-money valuation. The funding round is currently set to close at the end of October.
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