London Business Angels/LCIF syndicate backs Vallie, an on demand valet parking company
London based digital parking start-up, Vallie has secured an investment round with participation from LBA and the London Co-Investment Fund (LCIF). The company was founded in 2015 by ex Googler Nash Islam and Robin Doble and offers an on-demand parking service for drivers to book, meet & greet valet parking anywhere in London for less than the cost of car parks. Vallie’s on-demand parking business model has been successful in the US, with two separate startups raising $25 million+ in their first year of operations. Vallie is first to market in London and intends to use the investment to win the London market and move fast to quickly capture other European markets, building a brand and service that urban car drivers will not only love but find indispensable
Nash Islam, Vallie CEO, comments, “London is one of the most difficult and expensive places to park in the world. Our customers love Vallie and the services we provide. It’s not just parking, it’s about improving the entire car owner experience and make driving into London work for both the driver and the city. Vallie’s model can work well in almost any city across the world. This round allows Vallie to deliver on that potential immediately”
Anthony Clarke, LBA CEO, comments, “in an age of traffic congestion and a lack of parking spaces, Vallie has developed a disruptive solution that enables drivers to book valet parking on demand at less than the cost of parking in a car park. The Vallie management team has a track record of success and the Vallie product is already being used by a number of drivers on a regular basis. This new funding means that the company is well positioned to scale its growth”
Puneet Bhatia, LCIF Fund Manager, comments, “We are excited to be supporting Vallie – UK’s first on demand valet parking service and we believe that they have a potent combination for success – great team, market opportunity and proof of concept”
More info on Vallie’s website.