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