Flash Parking Secures $60 Million VC Capital
FlashParking has announced that it has received a $60 million strategic investment from the Growth Fund of L Catterton, the largest and most global consumer-focused private equity firm. The investment will be used to scale FlashParking’s industry-leading extensible, cloud-based parking system that enables 21st-century parking and the evolution of isolated parking assets into connected mobility hubs.
“FlashParking is a best-in-class parking solutions provider with proven technology and an industry-first cloud-based software solution,” said Michael Farello, Managing Partner, L Catterton Growth Fund. “We are pleased to partner with the FlashParking leadership team to accelerate the Company’s growth and facilitate the delivery of mobility services to consumers and businesses.”
The mobility industry is facing a paradigm shift that is moving the conversation toward systems that can support today’s and tomorrow’s mobility services rather than typical “to” and “from” mobility technologies. To get ahead of this evolution, in the coming months FlashParking intends to announce new partnerships with transportation, logistics, and mobility companies that are leveraging its platform.
“Over the last nine years, we have built the FlashParking platform with quality and adaptability in mind by making it cloud-based, mobile-first, and future-ready. This unique platform has allowed us to configure an operating system that’s not only the best solution for parking infrastructure today but also a model that’s ready for tomorrow,” said Juan Rodriguez, co-founder of FlashParking.