Parkmobile, which we’ve covered for quite a few times in the past, has closed a $6.3 million financing led by its current investors BCD Holdings, Parkmobile Group, Fontinalis Partners and Bluefield Investments. The company plans to use the new cash to build on its considerable momentum to date and further increase its leading global position.
As you probably know, Parkmobile’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. The company provides its service in more than 400 cities, universities, commercial and transit locations worldwide. For instance, Parkmobile is widely available in such cities as Washington D.C., Los Angeles, Indianapolis and Houston.
More than 1 million members have signed up for Parkmobile in the U.S. of which 700,000 members have downloaded the company’s apps, making it the most widely used mobile payment solution in the parking industry.