QuickPay adds $5.5 million in new venture capital funding
Editor’s note: This article was issued by QuickPay Corp. as a news release. JVH
QuickPay Corp., a premier provider of mobile parking payment
solutions, announced, in mid-December, the completion of $5.5 million in additional funding.
Investors in this round include both Silicon Valley “angel” investors and several groups with expertise and large networks in next-generation mobility relevant to the company’s growth:
Detroit-based Fontinalis Partners (www.fontinalis.com), which has been the company’s lead investors to date, is a next-generation mobility investment firm co-founded by Bill Ford Jr., Executive Chairman of Ford Motor Co.
Ecomobilite Ventures (www.ecomobilite-ventures.com) is a Europe-based multi-corporate venture firm focused on the future of mobility. Limited partners include SNCF, the French state-owned railway company; Total, a worldwide leader in oil and gas; and Orange, a European telecom leader.
IncWell LP (www.theincwell.net) is a “seed-stage” venture capital firm in Birmingham, MI, founded and managed by Tom LaSorda, former CEO of Chrysler.
“We are really excited about this new funding, and our great set of investors with highly relevant networks and expertise,” said Barney Pell, QuickPay Chairman and CEO. “This new funding will help us scale our smart-parking platform to a nationwide footprint.”
“Smart-parking is a segment of the next-generation mobility sector that is heating up substantially,” said Chris Thomas, Fontinalis Co-Founder and Managing Director, and a QuickPay board member. “We are incredibly excited about QuickPay’s successes to date, the platform they are building, and the way their team is approaching this opportunity.”
Fabienne Herlaut, Founder and Managing Partner of Ecomobilite Ventures, said, “We are extremely pleased to support QuickPay, as we believe that the technology developed by the team will accelerate the emergence of more fluid parking solutions, which in turn enable more efficient mobility overall.”
QuickPay previously announced partnerships with several national-scale parking operators, including ABM Parking Services, which operates more than 2,000 U.S. parking locations; and Impark, the leading parking operator in Canada. It offers a flexible solution designed to enable mobile access and payments across this broad range of facilities and their complex mix of rates, schedules, user types and equipment.
Privately held QuickPay is backed by successful investors and technology leaders, including A16Z Seed and Advanced Technology Ventures, plus Ecomobilite and Fontinalis. With this new financing, the San Francisco-based company intends to build out product development, account management and operations to scale out its services with existing and new partners across North America.
Article Abstract from February, 2014