On Nov 17 2022 / by Toby Littin

Parkable secures further funding for USA growth

Parkable, the New Zealand parking automation start-up has completed its most recent capital raise taking on a $10 million investment from Christopher & Banks (Pushpay investor Peter Huljich and associates).

Including monies raised with a convertible note issued in May this year, $8.6 million of new investment has come into the business which CEO Toby Littin says will facilitate the establishment of business development and customer service functions in the USA where most of the company’s new customers are based.

Following the transaction, Christopher & Banks become the biggest single investor in the firm.

Parkable CEO Toby Littin said; “Having Peter and his team and expertise join us and help guide our US and global scale up is incredibly encouraging.  We have already established an office in the US and much of our future recruitment will be there and so it helps having someone with us who has done all that before”.

“I’d also like to thank our long term shareholders who have again backed us via the convertible note and continue to give us such amazing support and advice.  The New Zealand investor community truly is a national strength”.

Parkable lists Meta, Xero, American College of Nursing, Colorado Housing and Finance Authority and BNZ amongst its customers and operates globally with staff in New Zealand, Australia, UK and USA.

As part of the deal, former Pushpay CEO and Paymark Chairman, Bruce Gordon will join the Parkable board.

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