Passport (company)
Payment service company From Wikipedia, the free encyclopedia
Passport is a Charlotte, North Carolina–based curb management payment service provider and software company.[1]
 | |
| Company type | Private |
|---|---|
| Industry | Web and mobile payments software |
| Founded | May 2010 |
| Founder | Bob Youakim Charlie Youakim |
| Headquarters | |
| Website | www |
Specializing in mobile payments for transportation, Passport provides an enterprise software platform for cities, transit agencies, universities, and private operators in the parking and transportation industries throughout the U.S. and Canada.[2] Passport’s primary applications include mobile payments for parking and mobile ticketing for transit operations.[3] Passport's software allows municipalities and private operators to charge users for parking without hardware payment stations.[4][5]
History
Passport was co-founded by Khristain Gutierrez and Bob Youakim in 2010.[6][7]
Investment firm Sixth Street Growth put up the capital for Passport with a reported $90 million investment. In 2017, the company raised $43 million in Series C funding led by Bain Capital. By 2021, the company had raised nearly $200 million.[8]
In February 2023, Passport partnered with AutoReturn, a towing management systems provider that provides cities with a parking citation management system. Passport's mobility management platform allows for integration with any towing company, like Auto Return, allowing enforcement officers to quickly issue a tow through their handheld devices.[9]
Acquisitions
The company acquired Scottdale, Arizona-based ParkX LLC in 2016.[10]
In 2018, Passport acquired NuPark, a license plate reading company.[1][11] In 2021, NuPark was sold to T2 Systems.[12]
References
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