JustPark raises £3.7m on Crowdcube to fund community growth and software development.
The parking platform secured its capital from over 2,900 investors in a record-breaking crowdfunding campaign.
JustPark operates a digital platform that connects drivers seeking parking with property owners who have spare spaces to rent.
JustPark has raised £3.7m through a Crowdcube campaign after surpassing its initial target by a wide margin. The funding round drew participation from more than 2,900 individual investors over a 34-day period, setting a record for equity crowdfunding in a British technology company.
The capital will be directed towards expanding the company user community domestically and internationally, alongside ongoing software development. The business previously secured backing from institutional investors including BMW i Ventures and Index Ventures.
This campaign marks the conclusion of the company public fundraising effort on the platform, having reached the maximum limit permitted for small and medium enterprises under European Union regulations.
From the founder
"We’ve been overwhelmed by the positive response to our crowdfunding campaign. The way that the public have got behind JustPark and put their faith in us has been a huge vote of confidence, and genuinely humbling. We’re now looking forward to the next stage of our growth and to working alongside a loud, proud collective of our most passionate users to bring parking into the 21st century."
Anthony Eskinazi
Founder at JustPark
Investor perspective
"JustPark is one of a growing number of more established businesses to seek finance through crowdfunding. With JustPark already being backed by leading venture capital firms, we were not at all surprised in the level of interest from the crowd that this pitch received. JustPark was a fantastic investment opportunity and the results prove that."
Luke Lang
co-founder and CMO, Crowdcube
Use of funds
- 01Expand into international markets
- 02Continue product development