Parkamo in a €2.1 million funding round led by Aggregate Media.

Parkamo, a Stockholm, Sweden, and Munich, Germany-basd startup providing a mobile app handling urban space comparison and payment, announced that it secured a capital increase closed at €2.1 million ($2.4M).

The money was raised from investors led by Aggregate Media (provider of media for equity deals) and joined by the venture builder, EPTI, and family office Allanova.

Proceeds will be used for hiring more people and consolidate position in its core markets of Sweden and Germany. Parkamo is furthermore planning to deepen its partnerships with municipalities, parking app providers, and parking garage owners.

Parkamo, founded in 2019 by CEO Katharina Wagner, developed a platform they call a Booking.com for parking, through which users can easily locate the best parking options in the vicinity, compare prices, and avoid areas with high parking pressure. In addition to on-street parking, Parkamo users have access to Parkamo’s own parking garages and private parking spots, as well as other on-street parking places through consolidation of other parking apps.

The company says that the app is currently active in 20 European countries including the UK, France, Germany, Spain, Italy, and the Nordics.