In a significant financial milestone, Lund-based startup Parkster has announced that it surpassed SEK 1 billion (€ 90 Million) in revenue in 2023, signaling continued growth and expansion in the mobile parking sector. Parkster, known for its convenient mobile app that simplifies parking payments, now operates in over 1000 locations across Sweden, Germany, and Austria.

The company’s revenue for the year reached SEK 1.1 billion, marking an increase from SEK 920 million in 2022. Despite the revenue growth, the profit after financial items was SEK 11.9 million.

Parkster’s growth is particularly notable given the competitive landscape, with rival Easypark operating in over 3000 cities and reporting a net revenue of SEK 416 million with a profit of SEK 66 million in 2022.

Founded by Henrik Hallgren during his university studies 12 years ago, Parkster has grown substantially. Breakit reports Parkster has raised approximately SEK 35 million since its inception.