CIBC Innovation Banking partners with German Scale-Up Wemolo for debt financing round

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. The system enables detailed insights into key performance indicators of parking spaces, such as occupancy, peak times, or utilisation patterns. The unused parking space can then be made available to the public with the booking platform of Wemolo.

The company employs more than 230 people at its headquarter in Munich and its other European locations in Austria, Switzerland, Italy, Poland, and Denmark. Wemolo has raised more than 20 million euros in financing previously and the vast growth of over 23,000% in the past four years was recognized with the Deloitte Technology Fast 50 Award in 2024.

Dr. Yukio Iwamoto, Founder & CEO at Wemolo said: “I am thrilled to announce that Wemolo has successfully secured a significant debt growth funding round with the Canadian bank CIBC. This milestone is a testament to the achievements of our remarkable team. Our continued success demonstrates the immense potential and future viability of digital parking solutions. We are deeply committed to furthering our growth and will relentlessly invest in the innovation and development of our products to enhance our offerings and better serve our partners. Together, we are shaping a future where parking is seamless, digital, and sustainable.”

Charlotte Goggin, Director at CIBC Innovation Banking said: “We are pleased to be supporting Wemolo as it grows and expands across Europe. Wemolo offers a truly innovative solution for retailers, real estate owners and cities, providing an easy and cost effective way to manage their parking lots. We look forward to working with the team at Wemolo as they continue on their growth trajectory.”

About CIBC Innovation Banking

CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from startup to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, San Francisco Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.

About Wemolo

The tech scale-up Wemolo is a specialist in digital parking lot management and optimization. Within five years, the team around the founders Jakob Bodenmüller, Bastian Pieper and Yukio Iwamoto grew to more than 230 people in Munich as well as in five additional European offices. More than 2,500 parking lots already rely on Wemolo’s solution, which processes over 2 million parking events daily. The customer portfolio includes food retailers, parking facility owners, real estate companies, shopping centres and cities.
More info at https://www.wemolo.com/