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

CIBC Innovation Banking supports German tech company Wemolo with growth financing

CIBC Innovation Banking has provided a debt financing package to German tech company Wemolo. Specializing in digital parking solutions based on license plate recognition, Wemolo is active on over 2,500 properties across Europe. The funding will support the expansion of its product portfolio and European footprint.

Wemolo's parking management solution uses AI-powered computer vision to automate the processing and billing of parking events in both paid and unpaid areas. The GDPR-compliant license plate scanners eliminate the need for traditional systems such as barriers, tickets, and human enforcement.

Beyond automation, Wemolo helps optimize parking space usage by offering real-time insights into key performance indicators such as occupancy, peak times, and usage patterns. Unused spaces can then be made publicly available through Wemolo’s integrated booking platform.

The company employs more than 230 people at its headquarters in Munich and additional offices in Austria, Switzerland, Italy, Poland, and Denmark. To date, Wemolo has raised more than €20 million in funding. Its impressive 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, commented:
“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, added:
“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 as they continue their impressive growth journey.”

About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management, and funding to innovation-driven companies across North America, the UK, and select European markets—at every stage of the business lifecycle, from startup to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto, and Vancouver, the team brings deep expertise and a collaborative approach that spans commercial banking, private banking, wealth management, and capital markets.

About Wemolo
Wemolo is a fast-growing tech scale-up specializing in the digital management and optimization of parking spaces. Within five years, founders Jakob Bodenmüller, Bastian Pieper, and Yukio Iwamoto built a team of over 230 professionals based in Munich and five additional European cities. Today, over 2,500 parking locations rely on Wemolo’s technology, which processes more than 2 million parking events daily. Clients include grocery retailers, parking facility operators, real estate companies, shopping centers, and municipalities.

More information: www.wemolo.com

‍