JustPark operates an app-based peer-to-peer parking marketplace that matches parking demand with existing supply across private and commercial spaces. Over 3.5 million drivers use the app and the marketplace lists roughly 45,000 parking spaces. The company recently launched an equity offering on Crowdcube that raised £5.5 million in 48 hours during pre-registration and has accepted £6.3 million from over 4,200 investors. The offering is at a pre-money valuation of £80 million and marks JustPark's third securities offering on Crowdcube. The company previously closed a record £3.7 million crowdfunding round in 2015 and has received institutional backing from Index, LocalGlobe and BMWi Ventures. JustPark says the new capital will be used to accelerate growth and pursue international expansion. Founded in 2006 by Anthony Eskinazi, JustPark (formerly ParkatmyHouse) operates a marketplace connecting drivers with over 100,000 parking spaces across the UK. Its iOS app and in-car integration allow users to find, book, pay for and navigate directly to spaces that include car parks, hotels, domestic driveways and pubs. The platform reports 500,000 drivers using its service and says it plans to expand abroad. JustPark works with space owners via upfront leases for signposted spaces or on a pay-as-you-go basis, with some car parks guaranteeing a set number of spaces. The company cites estimates that UK drivers waste 106 days searching for parking, costing the economy approximately £6.3 billion a year and adding 30 percent to road traffic. Integration with Mini (BMW) is under way, with BMW planning to roll the app out across its range later in the year.

Total raised

$8M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2019