Pelican Capital exited its investment in parking technology provider, YourParkingSpace, through a sale to urban mobility specialist, Flowbird Group.
Pelican Capital invested in YourParkingSpace in September 2020 and since then the business has grown substantially, developing best-in-class technology solutions. The exit generates a return of up to 6.5 times money for Pelican Capital.
YourParkingSpace was founded in 2013 and specialises in parking technology solutions, developing the world’s most customisable end-to-end digitally led parking solution whilst also operating the UK’s leading pre-book and subscription marketplace. The business has grown by 125% in the past 12 months alone.
Flowbird Group is a specialist in on-street parking, working with more than 4,350 municipalities in over 80 countries. In addition, its smart parking technology includes ticketing equipment, validation terminals and associated software systems for public transport, generating revenues of more than €300 million (£256 million) annually.
