Parakey raises 20 million - significant increase in demand for mobile access

With its platform for mobile access, the PropTech company Parakey wants to make access management more flexible and enable those who work in commercial properties and live in apartment buildings to open locked spaces with the smartphone. Now they are raising new capital to scale up the business and continue to grow in the market.

In late 2020, Parakey conducted a directed rights issue led by the two anchor investors Tham Invest, which became the new owner of the company, and existing owner Green Group. Other owners also defended their holdings. The total capital raising amounts to SEK 20 million. 

Among the owners are also the company's four founders, Chalmers Ventures and a number of business angels, such as ASSA ABLOY's former Scandinavia manager and Easypark co-founder.

"We are proud and happy for our owners' strong belief in Parakey. With the help of the new capital, we will now grow the organization and accelerate the pace of development to further expand our lead in the market. We will clearly establish our latest product, the professional digital lock Parakey PDL, in the security market and be the obvious supplier of digital locks and mobile access in the Nordic region", says Jonas Arvidsson, CEO and co-founder of Parakey.

Parakey has many large Swedish real estate companies as customers, including Stena Fastigheter, Vasakronan and Klövern. This capital acquisition will now contribute to meeting the strong demand for mobile access that has grown further in line with Parakey's entry into the market for apartment buildings.

"Parakey will be the given overall supplier of mobile access and the market's most easily integrated system. We will continue to lead the transformation to digital keys and locks", concludes Jonas Arvidsson.cf_200D↩.

‍

For further information:‍

Jonas Arvidsson
CEO, Parakey
jonas@parakey.co
+46 73 183 66 66

‍

Picture: Parakey/Chalmers Ventures/Paul Wennerholm