Flash Raises $85 Million to Expand Parking Technology Platform and Payment Options

Flash, the industry-leading end-to-end parking technology platform, has announced the closure of an $85 million debt financing deal to support a newly formed special purpose vehicle (SPV). This significant financial boost is set to accelerate the adoption of Flash's platform and expand the range of flexible payment options available to its clients.

The debt capital, provided by Vantage Infrastructure, a prominent independent specialist infrastructure credit fund, can potentially be increased to $100 million. This strategic move underscores Flash's commitment to revolutionizing the parking industry by offering innovative solutions that cater to the diverse needs of asset owners and operators.

Chris Donus, President of Flash, emphasized the importance of this development, stating, "Innovation in payment options is as critical as platform innovation in pursuit of our vision for the parking industry's transformation." The new payment options will allow customers to join the Flash platform on terms that best suit their individual needs, regardless of scale, asset type, or configuration.

The flexibility offered by Flash extends to various aspects of parking technology, including EV charging infrastructure. This comprehensive approach aligns with the growing demand for integrated, future-proof parking solutions that can adapt to changing urban mobility landscapes.

Nick Cleary, Senior Partner at Vantage, expressed enthusiasm for the partnership, highlighting the opportunity to "upgrade and transform proven traditional infrastructure that saves time and costs for drivers and help build out the EV charging network." This collaboration between Flash and Vantage demonstrates a shared vision for modernizing parking infrastructure to meet evolving consumer needs and environmental considerations.

Flash's digital ecosystem aims to bring seamless parking and EV charging experiences to drivers through a first-of-its-kind platform. By connecting reservable parking and charging in commonly used apps with various parking locations, Flash is positioned to deliver digital, easy-to-use, and reliable solutions that eliminate wasted time, reduce excess emissions, and alleviate stress associated with driving and parking.

The company's customer-obsessed approach has attracted brands looking to partner with Flash to offer frictionless experiences to drivers. As urban areas continue to grapple with congestion and the transition to electric vehicles, Flash's technology platform stands to play a crucial role in shaping the future of urban mobility and parking management.

This financial deal, facilitated by Evercore as Flash's exclusive financial advisor, with legal counsel provided by Cadwalader, Wickersham & Taft LLP, marks a significant milestone in Flash's growth trajectory. The company anticipates extending the SPV structure and partnership with Vantage in future financings, suggesting a long-term strategy for continued expansion and innovation in the parking technology sector.

As cities worldwide seek smart solutions to address parking challenges and support the adoption of electric vehicles, Flash's enhanced capabilities and financial backing position the company as a key player in the transformation of urban infrastructure. The implications of this development extend beyond the parking industry, potentially influencing urban planning, environmental sustainability efforts, and the broader landscape of smart city initiatives.

For more information about Flash and its innovative parking solutions, interested parties can visit www.flashparking.com.