CIBC Innovation Banking has provided a debt financing package to the German tech company Wemolo. Wemolo specialises in digital parking lot solutions using licence plate recognition, and is active on more than 2,500 properties across Europe. The financing will be used to expand Wemolo's product portfolio and footprint across Europe.
Wemolo's parking management solution is based on computer vision technology and automates the processing and billing of parking events in paid and unpaid parking spaces. The GDPR-compliant licence plate scanners make traditional parking systems with barriers, parking tickets and officers redundant.
Wemolo also ensures the efficient use of parking spaces.
Wemolo's parking management solution is based on computer vision technology and automates the processing and billing of parking events in paid and unpaid parking spaces. The GDPR-compliant licence plate scanners make traditional parking systems with barriers, parking tickets and officers redundant.
Wemolo also ensures the efficient use of parking spaces.
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