JustPark, the parking app which aims to find you an unoccupied space, has announced the launch of an equity crowdfunding scheme.
JustPark is using the Crowdcube platform in an effort to raise £1 million, allowing any member of the public to invest in the company, with as little as a tenner stake.
In a blog post (opens in new tab), the company said to investors: “As a shareholder, you will be an integral part of our company journey: we’ll be hosting annual investor events, complete with in-depth progress reports and cocktail afterparties to keep you abreast of business.”
Though if you have a £10 stake, we’re not sure how many cocktails that will cover – still, you get the general idea.
The campaign is now open to the public to invest, but existing users were given 48 hours previously to pony up their money – and last night, the crowdfunding investment total had already hit £250,000.
One of the first investors was Dan Gilbert of Brainlabs Digital, who told JustPark: “I decided to invest in JustPark after using the platform for a few years (and telling all my friends about it). They are solving a genuine pain-point; parking is difficult, unpredictable and expensive when you use traditional parking spaces.”
“From an investment perspective, JustPark’s numbers are spot on and they have a clear first-mover advantage in a market that will naturally lean towards consolidation rather than fragmentation.”
The JustPark app offers a simple system whereby you can search for, then book a parking space in advance, and it claims to be 60 per cent cheaper than on-street parking rates.
View the Crowdcube funding page here (opens in new tab).