TwinPay lands £500,000 debt facility to scale parking tech
What's the deal? South Yorkshire parking technology firm TwinPayDealroom has a profile for this one. Try Dealroom → has secured a £500,000 mezzanine finance facility to fund its expansion. The capital came via the South Yorkshire Debt Fund, managed by FW CapitalDealroom has a profile for this one. Try Dealroom → on behalf of South Yorkshire Pensions AuthorityDealroom has a profile for this one. Try Dealroom →.
What's the endgame? TwinPay supplies integrated technology to the parking sector, combining digital payments, parking hardware, back-office software, and EV charging. The funding will support product development and further investment in that offering.
Why now? The company aims to serve independent car park operators and management companies with a complete solution. "TwinPay and the team are delighted to be working with Hawsons and FW Capital to support our ambitious growth plans," said Jeremy Martin, managing director at TwinPay.
What makes it notable? The transaction is the first mezzanine finance facility provided through the South Yorkshire Debt Fund. Hawsons Corporate FinanceDealroom has a profile for this one. Try Dealroom → acted as lead adviser to TwinPay.
Paul Wainwright, fund manager at FW Capital, said the hybrid capital structure lets the fund provide "strategic funding they need for advanced technology enhancements and product development." He called the facility "a major milestone" for the business.
The signal: Pension fund capital is increasingly being channelled into regional growth. As Andrew Stone of South Yorkshire Pensions Authority put it, the deal shows how such capital "can also contribute to sustainable economic growth in the region."
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