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QuickPay Corp. Raises $5.5 Million in Additional Funding Mobile Parking Payments Leader Backed by Next-Generation Mobility Investors


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© Marketwire 2013
2013-12-13 15:03:02 -

SAN FRANCISCO, CA -- (Marketwired) -- 12/13/13 -- QuickPay Corp., a premier provider of mobile parking payment solutions, today announced the completion of $5.5 million in additional funding.



QuickPay 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, who have been QuickPay's lead investors to date, is a leading next-generation mobility investment firm co-founded by Bill Ford, Jr., Executive Chairman of Ford Motor Corp. Ecomobilite Ventures is a Europe-based multi corporate venture firm focused on the future of mobility. Limited partners include SNCF, French state owned railway company, Total, a worldwide leader in oil and gas, and Orange, a European telecom leader. IncWell 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, Chairman and CEO, QuickPay. "This new funding will help us scale our smart parking platform to a nation-wide footprint."





"Smart parking is a segment of the next-generation mobility sector that is heating up substantially," said Chris Thomas, Co-Founder and Managing Director, Fontinalis Partners, and Member of the Board, QuickPay. "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, 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 has recently announced partnerships with several national-scale parking operators, including ABM Parking Services, who operate over 2,000 parking locations in the United States, including office complexes, airports, universities, municipalities, hotels, hospitals, special event venues, and more, and Impark, the leading parking operator in Canada. QuickPay uniquely offers a flexible solution that enables mobile access and payments across this broad range of facilities and their complex mix of rates, schedules, user types, and equipment. With this new financing, QuickPay intends to build out product development, account management, and operations to scale out its services with existing and new partners across North America.



About QuickPay Corp.
QuickPay was founded in 2010 with a vision to leverage trends in mobile and cloud technology to remove the pain and hassle of finding, accessing, and paying for parking and transportation. The QP QuickPay mobile parking platform offers users one mobile parking application that works across all parking environments -- drivers can even raise parking gates using their mobile phones -- and gives parking owners and operators an efficient way to enable mobile parking and a suite of innovations across all their assets with a single integrated solution. Today drivers can use QP QuickPay and a mobile phone to find and pay for parking at hundreds of locations across the U.S., with new locations being added continually. QuickPay can be found on the web at qpme.com : ctt.marketwire.com/?release=1076113&id=3732055&type=1&am .. , on Twitter @QPme : ctt.marketwire.com/?release=1076113&id=3732058&type=1&am .. , and on Facebook at facebook.com/qpquickpay : ctt.marketwire.com/?release=1076113&id=3732061&type=1&am .. .



Privately-held QuickPay Corp. is based in San Francisco and backed by successful investors and technology leaders, including A16Z Seed, Advanced Technology Ventures, Ecomobilite Ventures, and Fontinalis Partners. Co-founded by Ford Motor Company executive chairman Bill Ford, Fontinalis Partners invests in technology companies improving next-generation mobility.



About Fontinalis Partners
Fontinalis Partners, with offices in Detroit and Boston, is a leading next-generation mobility investment firm founded by Bill Ford, Ralph Booth, Mark Schulz, Chris Cheever and Chris Thomas. Fontinalis' mission is to leverage the firm's considerable management experience, market access, strategic relationships, international expertise, and background in transportation innovation to scale companies providing next-generation mobility solutions. Fontinalis Partners, LLC, invests as a strategic partner across all facets of the world's mobility systems on a stage, structure and size agnostic basis. Fontinalis Partners is not affiliated with Ford Motor Company. For further information about Fontinalis Partners, please visit www.fontinalis.com : ctt.marketwire.com/?release=1076113&id=3732064&type=1&am .. .



About Ecomobilite Ventures
Ecomobilite Ventures is an investment fund created in 2012 by SNCF, Orange and Total, to support development in future mobility systems. The industrial partnership focuses its investments in four areas: transportation services, innovative information technology, connected vehicles and mobility products, and intelligent infrastructure. For further information about Ecomobilite Ventures, please visit: http://www.ecomobilite-ventures.com/ : ctt.marketwire.com/?release=1076113&id=3732067&type=1&am ..



About IncWell
IncWell LP is a private venture capital fund that offers seed stage investments to startups in a wide range of business sectors. Investments range in size from $50k to $250k. The fund was founded by Tom LaSorda, former CEO of Chrysler, and the fund's Managing Director is Simon Boag, a 25-year senior executive from the auto industry. Other Limited Partners include Roger Penske, Ted Fuller, Steven Polk, John Melstrom, Wayne Sales and Ravinder 'Ravi' Sajwan. For more information visit: www.theincwell.net : ctt.marketwire.com/?release=1076113&id=3732070&type=1&am ..




Contact:
Cindy Turner for QuickPay Corp.
Email Contact : www2.marketwire.com/mw/emailprcntct?id=03547042D261A712
(650)207-1223



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