Metropolis raises $1.6 billion to make payments seamless everywhere
Metropolis just scored $1.6 billion in fresh funding to bring its AI-powered payment tech from parking lots into places like drive-throughs, gas stations, and restaurants.
The $500 million Series D equity round was led by LionTree, with big names like SoftBank Vision Fund and Vista Equity Partners joining in.
Additionally, J.P. Morgan led a $1.1 billion syndicated term loan.
Metropolis is already in 4,200+ locations across 40 countries
Since 2017, Metropolis has used AI and computer vision to let users pay for parking automatically—no tickets or tapping needed.
Now, CEO Alex Israel wants to license this tech so you can just show up at a drive-through or gas station and pay without pulling out your wallet.
The company already runs in 4,200+ spots across 40 countries and handles $5 billion a year from 50 million customers.
The company is already profitable and has a $5 billion valuation
Metropolis has been snapping up other companies—including SP+ for $1.5 billion last year—to fuel its expansion.
They're profitable, valued at $5 billion after this latest round, and aiming to make seamless payments the new normal wherever you go.