Parkmobile Closes $6.3 Million Financing to Fund Further Growth in Global Market
Parkmobile, the leading provider of mobile payment solutions to municipalities and parking providers around the world, announced today that it has closed a $6.3 million 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.
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 also is a leading provider of digital parking permits. Parkmobile’s solutions offer a strong business case to municipalities, universities and private operators of all sizes, by significantly increasing revenue, while reducing costs, traffic congestion, fuel usage and vehicle emissions.
Since becoming the first company to introduce mobile apps for parking in the U.S. in 2009, Parkmobile has expanded its footprint to more than 400 cities, universities, commercial and transit locations worldwide. Parkmobile’s solutions are 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.
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.”
“Parkmobile is leading new payments initiatives for municipalities and other parking providers. 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.
Fontinalis Founding Partner Ralph H. Booth, II said, “We are very pleased with the continuing progress that Cherie and her team have been able to accomplish in expanding our customer base and improving efficiencies”.
To use Parkmobile’s service, parkers register for free by downloading the mobile app or setting up an on-line account at www.parkmobile.com. Once registered, members can use the mobile app, the internet, or a toll-free number to pay for parking.
Parkmobile, headquartered in Atlanta, is the leading global provider of seamlessly integrated end-to-end solutions for mobile payments, parking guidance using business analytics and parking. Its offerings include mobile payments for on- and off-street parking, digital parking permits, real-time enforcement and a seamless transit parking experience. Parkmobile’s services are used in 400 cities around the world by millions of registered users. Parkmobile’s investors include BCD Holdings and Fontinalis Partners (a strategic investment firm that invests in next-generation mobility companies and whose founding partners include Bill Ford, Executive Chairman of Ford Motor Company) and BCD Holdings.
About BCD Holdings
BCD Holdings N.V. is a market leader in the travel industry. The Dutch, privately owned company was founded in 1975 by John Fentener van Vlissingen and consists of BCD Travel (global corporate travel management), Travix (online travel: CheapTickets, Vliegwinkel, BudgetAir and Vayama), Park 'N Fly (off-airport parking), TRX (travel transaction processing and data integration), Airtrade (consolidating and fulfillment), VakantieXperts (leisure) and Parkmobile International (mobile parking and traffic applications). BCD Holdings employs over 12,000 people and operates in more than 95 countries with total sales, including franchising, of $22.1 billion. For more information, visit www.bcd-nv.com.
For more information please visit www.parkmobile.com, facebook.com/ParkmobileUSA or on Twitter @Parkmobile.