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JustPark

Platform:
Crowdcube
Stage:
Expansion
Industry:
Internet
Location:
UK - London
Date Rated:
28/11/17
Raise:
£1,500,000
Equity:
4.35%
Valuation (Pre Money):
£32,982,759
Industry: Internet
Location: UK - London
Platform: Crowdcube
£1,500,000 Expansion
Valuation: £34,482,759
Date Rated: 24/11/17

MANAGEMENT

PRODUCT

INVESTMENT
Tax Status: EIS

Business Summary

JustPark is a technology platform that matches drivers with parking spaces through its website and mobile application allowing property owners to make money from their underused spaces. JustPark already has over 1.5 million registered drivers and access to over 1.4 million spaces. This round of investment will be used to strengthen the team and to accelerate growth.

Financial Overview

 

 

 

There is insufficient information available to provide a financial overview

 

 

84%
SKILLS:
EXPERIENCE:
COMMITMENT:
There is a complete management team in place covering every key role with the right skills to help the company grow its market presence both in the UK and internationally.
There have been many changes in the management team since the last investment round but the current team has significant commercial experience and support from experienced advisors.
All the management team is full time and has invested significant time into the business. The company is also offering generous salary packages to motivate key staff.
77%
MARKET:
PRODUCT:
COMPETITION:
The UK parking market is worth over £3bn and the global market is worth about £50bn. JustPark has 1.5 million registered drivers out of 45.5 million drivers registered in the UK.
JustPark has received many good reviews and won various awards. The company has already a large user database and the Apps are increasing the product's visibility.
JustPark provides IVR phone payment technology and digital pay-on-foot machines that should help increase its market share further with the support of improvements in product functionality.
There is insufficient information available to fairly rate this aspect of the business


Conclusion

Just Park has made impressive progress since the last Crowdcube round in 2015 both in terms of consumer take-up and increased access to business and local authority premises on the supply side. International expansion will however remain a challenge for the current team, strong though it now is.

We have not received any financial information from the company so a full investment appraisal is not possible. Investors should take some comfort from the fact that both Venture Capital providers are investing at this valuation but they also have the benefit of a liquidation preference that is not being offered to Crowdcube investors. Furthermore, investments under £100k will not carry pre-emption rights and these investments will be held under a nominee account structure.

Note: We have not received a business plan from JustPark and therefore this rating is based on the information available within the Crowdcube pitch.

Related Links

Crowdcube Pitch

www.justpark.com

 

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