JustPark crowdfunding on Crowdcube

Yeah looks like a good business model.

Similar to Just Eat, Rightmove, Uber etc. They’re just a middle man, signing people and matching them with a customer and taking a cut.

Need some more details though, are they planning to expand beyond the UK?

Also, looks like they’ve got EIS :man_shrugging:

Have they said what they’re going to overfund to?

Agreed but it looks like not all the middleman are working ok e.g. Car servicing ( MycarneedsA.com), car sharing (Hiya . Funny enough when I tried to get a quote , I was getting the price more than established car rental companies )…

I live in Cornwall and JustPark is pretty big down here, another player that’s common down here is RingGo. They work with the Council and supply the car parks, it’s possible to pay through them. Really nice bit of kit, you can extend your sessions if you need to on your phone without having to go back and get another parking ticket. It’s a great app, it’ll be nice to see their documents

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I’ve used them too in Poole, Dorset

I invested in JustPark in 2015. It 3x from my original investment.

I believe the money will be used to expand the team and they’ve moved to a new office too. Can’t comment on sales figures and active users. According to them number of users grew to 3.5M.

They are in the Tech Track 100 (95) this year The Sunday Times Tech Track 100

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I use JustPark to rent a driveway close to the station for my commute (far cheaper and more convenient that public transport, cycling etc…) - love the model and have had no problems as a user so have invested in this round

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I’ve also just put in £150. The EIS is nice. I also really love their app. The way they’re heading with the P2P space renting is awesome and their financial figures look amazing. There’s still a huge amount of room for growth. I’m looking really forward to this one.

I can’t find JustPark on crowdcube. Do you have a link.

https://www.crowdcube.com/companies/justpark-1/pitches/bk7Aeb

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Great to see JustPark growing.
My offices used to be right across theirs - and when they were moving out there was a moment in which we might have moved into their offices. They were 60+ people crammed in 3000 sqf -

Big market, solid KPIs, big name investors, good management team. It ticks a lot of boxes… I don’t have access to the documents yet, so I’ll wait before taking my decision.

A few remarks:

  • Share type (D) is not exactly optimal. According to their 2015 pitch page, early crowd-equity investors also got these shares.
  • Share price increase isn’t exactly high, probably also linked to the share type. I’d like to see the A share price increase.
  • Their pitch video is a buzzword soup, I’m wondering how they really plan on leveraging autonomous cars, shared mobility etc.

Adressing real case issue. Next stop is buy parking space and rent. Invested

I am curious as to why people would invest in this at a valuation of £80m. I have not seen the financials but I would expect a business of JustPark’s age to be profitable (or close to).

It sounds like they are raising money betting on becoming a big player in mobility solutions… but without much clarity on exactly how they are going to do this. Not to mention the competition they will be up against. This space will be worth 100x what parking is worth so you will see mega players fight for this market.

By investing at this valuation, I would imagine the upside (for parking) is limited and you are funding an entirely new and untested business model.

If I’m honest it feels like easy pickings for JustPark to raise easy money on crowdfunding at a very high valuation.

Keen to understand anyone’s rationale for taking what feels like an expensive punt?

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So I have taken a punt on this, after reading my rich dad/poor dad guide to investing I feel this is the sort of thing I need to be doing.

Risky? Of course, that’s completely the point.

Good luck to all others who have invested.

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Of the people that have invested, how much did you put in?

I put in £20 as a little punt…

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£500, so manageable pain level.

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I put in £150

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Don’t forget, it’s just a pledge at this stage - there is a cold feet get out clause.

Good timing maybe on my part, update just came in:

Northern Ireland’s new, exclusive parking payment provider

Justpark2019 26 minutes ago 0 Replies

We’ve been waiting to tell our new and existing investors this news for a while - after a comprehensive selection process, JustPark has been selected as the new, exclusive parking payment provider for the whole of Northern Ireland’s public sector.

Every on- and off-street space will promote the JustPark service as the easiest and fastest way to pay. In return, JustPark will be helping to improve the parking experience for everyone in Northern Ireland.

We see our entry into the island of Ireland as a first step in expanding our international footprint.

Rather than just winning Local Authorities, we are now winning contracts to partner with entire countries. A great testament to the hard work invested over the last few years in building a brand and product to serve the public sector.

Our service will go live early in the new year.

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