Romanian venture capital fund invests in future “parking Waze”

Roca X, a local investment fund looking for technology start-ups in Romania and abroad, announced that it invested in yeParking, a parksharing application and an IT provider of solutions to make parking spaces more efficient.

“We are confident in the potential of the application to gain popularity in record time and we believe that it will soon become a parking Waze, installed on all drivers' phones in Romania and beyond. We decided to complete the direct investment by offering our support in the development of the business-to-business area of the platform, by implementing it as a payment method in GoToParking, at Avram Iancu international airport in Cluj,” explains Alexandru Bogdan, ROCA X investment manager.

The capital obtained by the company as a result of the financing will be used in an initial stage to increase the application usage rate in Cluj-Napoca, to expand the application in other big cities in Romania and to enroll the first office buildings and residential closed areas in the business to business solution. The yeParking app currently has about 5,000 users in Cluj-Napoca.

(Photo source: Facebook/YeParking)