Case studies

JustPark

A very short guide to: Understanding your market

The company started in 2006 with the name ParkatMyHouse; users can rent out their driveway space to car owners. Since then we’ve renamed as JustPark as the idea has attracted a lot of attention and we’ve increased our focus from driveways to other plots of land such as carparks, churches and hotels. We’ve had huge interest from the press, investors and the public – our last crowdfunding round set a new record. By any account we’ve had really strong growth over the last few years.

Having grown so fast, we were looking for ways to automate a lot of the processes we have in house. We were set up for a team of around ten but had grown to over 25. Having very quick and accurate accounts is something that, particularly at a granular level, really helps us understand where value is coming from. Slick processes and systems meant we could get on with growing the business as quickly as possible. And when information gets to you quickly and you’re totally comfortable with it, you can make better decisions on the fly.

When choosing a service, we wanted people who were going to own the process; so we wouldn’t be chasing them, they would be chasing us. The onboarding process and service thereafter has been really great. It feels like, rather than it being like a service that we outsource, you’ve got a CFO that’s sitting outside the business but very much chasing you for things. And that’s very much what we wanted. My Financepartner had an out-of-the-box solution, they knew what our struggles were and the types of things we were thinking about.
We were talking to an experienced team who were proactive.

It’s really nice to have a set of eyes who can think about it in a different way. When we’ve had big decisions to make, I can run them by our Financepartner and he’ll be able to pull up stories from his past that are normally reassure us or challenge and encourage us to think of different things. It’s been a really great sounding board for that reason.

We’re very much focused on the fundamentals of the business and the model itself. We’re totally concentrated on building the best product, the best service for drivers and the space owners so we can improve the market.

Steve Coulson, CFO JustPark

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