Saturday, September 6, 2014

Pango Mobile Parking raised $6.5 million

Pango Mobile Parking, with offices in New York City and Israel, announced the completion of their $6.5 million series A round.  

World e-commerce and online payments innovator, D.H. Rondor International, joins the company as the latest investor, adding Mr. Adir Inbar to the Pango board of directors.   

Mr. Adir Inbar (CPA) and new Pango Board member, said, "D. H. Rondor International is a global innovator in the field of e-commerce and online payments.   We invested in Pango because Pango has one of the proven leading mobile payments and parking platform in the world integrating information about cars, drivers, and businesses into one application."  

Pango is on the move globally in the United States, Brazil, and Europe.  The company recently launched in Curitiba, Brazil which is a city with over 10,000 parking spaces.  The company expects to be live in other large Brazilian cities in the coming months.  In the United States, Pango is launching new cities in, Pennsylvania, New York, and Texas.  The company is significantly expanding the sales, marketing, and engineering teams to support the United States business.  Pango is evaluating opening a new office in Boston and already hired talent from the region.

"Pango's vision is to reach every driver through their mobile or their car in the coming years, offering smart parking and much more," said Zion Harel, CEO Pango Mobile Parking.  "We are pleased to have Mr. Inbar, and D.H. Rondor International as a strategic investor whose e-commerce and online payment focus aligns with Pango's long term direction."

"Pango is on the move around the United States reaching connected drivers with our platform," said Neil Edwards, President Pango Mobile Parking, "We are changing the face of American cities, one city at a time.  We are excited to locate Pango in areas like Boston, where Pango will transform the way people drive and park."

Pango, headquartered in New York City and Israel, is available in over 59 cities today around the world and used by more than more than 1 million active accounts.  Pango is available in the US in New York City; Auburn, New York; Butler, Latrobe, Pittston, and Scranton, PA; Phoenix, AZ, and Alexandria, VA.  Considered the company that invented the science behind the first pay-by-phone parking app, Pango was awarded US Patent (5,940,481) in 1997.  Pango is one of the only companies in the world to provide on street, gated, valet, event, and fleet-based parking services through an app.  Pango is a member of the Parking Network: The online community for parking professionals. Pango works on i-Phone, Android, and Blackberry. 

Source: newswire

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