South African start-up ParkUpp is on a nationwide expansion drive after being acquired by proptech investment company Docklands Ventures earlier this year.
Founded in 2016, ParkUpp is a marketplace that connects owners of parking spaces with companies and individuals who need parking. The website focuses on daily to monthly parkingin Johannesburg and Cape Town, providing a seamless booking and payment system.
The online platform is used by listed property firms across the country, including shopping centres, private parking facilities and co-working spaces.
In February, ParkUpp announced it had sold its parking business, website, brand and data to South African real estate firm Docklands Ventures, owned by Mark Bradford, former chairman of real estate company JLL Sub-Saharan Africa.
During his 30-year career, Bradford founded, built and sold a number of successful businesses in the real estate sector.
Following the acquisition, Docklands Ventures says it is on a mission to secure community basements of vehicle collectors in convenient parking locations across SA, in efforts to better position itself as an innovative player in the flexible parking solutions market.
As part of this, the proptech firm has introduced ParkUpp Collector, a community basement parking feature targeted at car collectors.
"You may own that polished collectible for the sheer joy of an occasional drive, as an investment, or as functional art. It might be a rare find or a sentimental reminder of times past. For most enthusiasts, however, there is always the question of where to park it," says ParkUpp sales lead Umar Obaray.
“Once the bug has bitten and you have more cars than your home garage can accommodate, the search for offsite parking begins.ParkUpp offers specialised facilities whose offerings include climate control and concierge services, often with accompanying waiting lists as demand is strong."
For the average collector looking to house a car under cover, arranging parking in a friend's garage or basement of a building may be a hassle, he adds.
ParkUpp Collector is currently available in Cape Town, with plans to roll it out nationally.
The platform is also adding other features, including ParkUpp Events (book reserved parking for select events), which is officially launching in July in Cape Town. Other new features to be introduced in a few months include ParkUpp Lifestyle (personalised), ParkUpp Long-haul (long-distance parking solutions) and ParkUpp Travel for tourists.
The acquisition saw ParkUpp founder and CEO Palesa Moloi exit the business, in pursuit of international business ventures. Kwanele Tshabalala (business development manager) and Obaray (sales Western Cape) recently joined ParkUpp to help implement its nationwide expansion.
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