Pango Mobile Parking Raises $6.5 Million in Series A

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Pango Mobile Parking, an Israeli company with offices in New York City that offers a smart phone app which helps people find and pay for available parking, has announced the completion of a series A round in which it raised $6.5 million. World e-commerce an online payments innovator, D.H. Rondor International, joins the company as the latest investor and its Adir Inbar has joined the Pango board of directors.

Pango, is currently available in over 59 cities around the world and used by more than 1 million active accounts. It can be used in the US in New York City; Auburn, New York; Butler, Latrobe, Pittston, and Scranton, PA; Phoenix, AZ, and Alexandria, VA. It was awarded a US Patent in 1997.

Mr. Adir Inbar (CPA) 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 expected to use some of the new funds for its current plans to expand 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 will add its services to cities in, Pennsylvania, New York, and Texas. The company is also expanding its sales, marketing, and engineering teams to support its American business. Pango is evaluating opening a new office in Boston and already hired talent from that 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, Pango Mobile Parking’s CEO. “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.”

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