HomeFundingSwedish startup Parakey raises €880k for its digital key solution

Swedish startup Parakey raises €880k for its digital key solution

Gothenburg-based startup Parakey has created a solution to replace the keys you have for your office, gym, and home with your mobile phone. On the startup’s web platform, key owners can easily manage who has access to certain keys, with the ability to send digital keys to thousands of people in a matter of seconds, and monitor their use.

Founded in 2014, Parakey has doubled its number of customers in the past year. The company has now received €880k from existing investor Chalmers Ventures, along with a number of business angels. The money will be used to recruit new employees and on marketing to increase sales.

Jonas Arvidsson, co-founder and CEO of Parakey, said: “By using Parakey, customers can easily and securely send mobile keys in seconds, or completely automatically through a specified booking, for example. Customers save time but also big sums of money by being able to fully digitise their key management.”

The new capital also comes from a number of high-profile people in the property industry, including Louise Grandinson, Business Development Manager at Oscar Properties, Anders Wennergren, and Johannes Lind-Widestam, who previously worked as managing director of the lock giant Assa in Scandinavia. He and Louise Grandinson will also join Parakey’s board.

Arvidsson added: “Getting Johannes’ support is really a sign that we are doing something good. He has a huge experience and a great network in the industry.”

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Mary Loritz
Mary Loritz
Mary served as Head of Content at EU-Startups.com from November 2018 until November 2019. She is an experienced journalist and researcher covering tech and business topics.

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