Inlandsinnovation backs Electronic Parking

Inlandsinnovation's investment will help the Swedish company expand its international operations, as well as develop further auxiliary services and apps.

Electronic Parking currently has its products connected to a million parking spaces in Sweden, Finland and Poland, and Inlandsinnovation sees good opportunities for further European expansion in the future.

The deal will be the seventh since the beginning of September for Inlandsinnovation, a government-backed growth fund that invests exclusively in northern Sweden.

The fund's recent investments include a SEK 20m deal for fish farming business Umlax, and taking a SEK 25m stake in call-centre company Loxysoft Group.

Company
Founded in 2011, the Luleå-based company develops parking-related software for consumers, most notably its eParkera app, which allows customers to pay for parking on their mobile phones.

According to public information, the company has two employees and had revenues of SEK 2.9m in the year to April, making a loss of SEK 583,000.

People
Peter Gullander is the CEO of Inlandsinnovation; his counterpart at Electronic Parking is Jan-Olof Andersson.

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