Parking lot startup Metropolis raises $1.6B for retail expansion

https://www.cnbc.com/2025/11/06/ai-based-parking-lot-payment-startup-metropolis-raises-1point6-billion.html

AI startup Metropolis, biggest parking lot network in U.S., raises $1.6 billion for major retail expansion

Metropolis, which uses AI and computer vision to take frictionless payments in parking lots, raised $1.6 billion in equity and debt at a $5 billion valuation.

It is already the largest parking lot network in the U.S., and is planning a major expansion across the retail sector, including gas stations and quick service drive-thru, as well as hotels and office spaces.

It currently handles $5 billion in annual checkout-free payments for 20 million members, adding one million a month, and predicts that it can grow to 50 million members.