CIBC Innovation Banking fuels European expansion of Wemolo’s digital parking solutions
|Wemolo, based in Munich, employs over 230 professionals across multiple European locations including Austria, Switzerland, Italy, Poland, and Denmark.
The partnership involves CIBC Innovation Banking providing a significant debt financing package to Wemolo. This funding aims to enhance Wemolo’s product offerings and expand its operational footprint throughout Europe.
CIBC Innovation Banking specializes in comprehensive financial services that support tech companies in expanding and innovating. On the other hand, Wemolo offers a state-of-the-art parking management solution that utilizes computer vision technology to automate parking events, eliminating the need for traditional parking barriers and tickets.