YallaParking secures AED 375k ($102k) Angel Investment

Congrats! 

 

YallaParking the U.A.E’s first and largest online marketplace for private parking space has

secured an angel investment of AED 375k ($102k). The investor, Emirati Angel Investor based in Abu Dhabi, connected through the regional MAGNiTT platform.

 

The startup which aims to eradicate the parking issues in the UAE, by allowing users to reserve

unoccupied private parking spaces, in or close by to their workplace or residence, has said that

the majority of the investment will go on technology development and growing their team.

YallaParking are soon to release the Beta version of their website, which has an easier search

and booking service for users, to book long term stays for 1-12 months. However, the

investment, will also allow them to develop their mobile app which will allow users the ability to

book off-street parking for short term stays from 1 to 24 hours. The company will also be looking to increase the size of the team and also to boost marketing

efforts.

 

Craig McDonald, Co-founder and CEO “The investment comes as validation of our team, the

problem we are trying to solve and the solution we are building. It’s really exciting because it

allows us to invest in a better product offering as well as explore the early stages of our product

roadmap and what’s coming next. Thanks to MAGNiTT we were able to connect to a local Angel Investor who bought into our vision”.