ParkCloud operates an online parking reservation platform that lets drivers search, browse and pre-book spaces at over 2,000 car parks at airports, stations, ports and city centres. Founded in 2008 and based in Manchester, the company has over 3 million registered users and operates in 42 countries. ParkCloud partners with car park operators to give them exposure to its international client base, and works with airports and airlines that receive commission from passengers who book via its site and white-label products. Around 80% of its revenue is generated overseas, and it is described as a European leader in its field. The company raised £4m in equity from Mercia Fund Managers’ EV Growth II to further develop its parking reservation technology, build its management team and enable two founders to exit. ParkCloud plans to make senior appointments, further develop its e-commerce platform, and expand partnerships with airports and airlines.

Total raised

$5M

Funding rounds

1

Latest round

Equity

Latest activity

Jul 2018