JustPark on track to smash crowdfunding goal
Parking app JustPark has launched another equity crowdfunding campaign following its record-breaking £3.5m raise from over 2,700 investors in 2015.
The parking technology firm has doubled its customer base to 1.5 million since its last funding round and is now looking to raise a further £1.5m to fuel its growth.
The company’s campaign is live on Crowdcube and it has already exceeded the £1m mark, having attracted funds from more than 600 investors.
"We're delighted that our community of investors has been so actively involved in our progress - not just by backing us financially, but by contributing their skills, knowledge and professional and social networks too," said JustPark founder and CEO Anthony Eskinazi.
"As JustPark ambassadors, they have been invaluable - helping us to unlock business opportunities with new car parks as well as referring their friends. To testify, word of mouth is now our biggest customer acquisition channel.
"That's why we chose to do crowdfunding in the first place - to tap into people's enthusiasm and build a network of brand evangelists."
Eskinazi left Deloitte to establish JustPark when he was only 23, and ran the business by himself until 2011.
JustPark's app and website provides drivers with real-time information on availablity, restrictions and price for 1.4 million parking spaces across the UK.
It also allows users to reserve and pay for a guaranteed space at more than 20,000 locations.
The company plans to use the money raised from the crowdfunding campaign towards further research and product development, growing its team and testing international markets.
Luke Lang, co-founder of Crowdcube, said: "It's fantastic to have JustPark back on the platform after their landmark and record-breaking raise in 2015, which pioneered how the crowd could invest alongside venture capital firms - with great results for both companies."
Last month, Wrexham County Borough Council became the first local authority to adopt JustPark's new mobile cashless payments service.