We’ve all been there; driving through streets in the big bad city looking for the perfect car parking spot. Unfortunately, Dublin City is congested, complex and unruly to find that elusive place, leaving us to retreat to a multi-story. ‘If only there was another way’, the term coined by Kevin O’Leary, the serial entrepreneur and ‘Shark Tank’ investor; comes to mind. Thankfully, there is, and Dublin startup Parkpnp has developed a solution.
Garret Flower conceived Parkpnp; another serial entrepreneur, with co-founder Daniel Paul also. The startup takes car parking into the digital age and links residential/commercial properties containing additional parking space to potential renters. The business offers customers an app, much like Airbnb, to find parking spots around the city per hour, per month, etc.
Is the car parking industry ready for such a digital innovation?
You would be forgiven for thinking this all seems over the top for the industry that Parkpnp is targeting. For instance, until recently, the most technological advancement in car parking was an electronic ticket machine. Look how far technology has come that we now use apps, geolocation and mobile/online payments in parking our cars. As mentioned, we have all been in this situation, we all feel that pain. Flower has achieved something that Blesky, Gebbia and Blecharczyk (founders) had previously done with the example of Airbnb.
The large following within Ireland would also like to think that the industry is ready for Parkpnp. With approximately 10,000 drivers signed up for the service and great interest from investors, there is an air of optimism that the company could begin scaling new heights further afield.
3 reasons why Parkpnp is disrupting the market:
1.) Geolocation Services
Viewing available spaces and their corresponding costs on a map makes choosing the ideal car parking spot more accessible. This is especially true when a place is advertised at a significant discount and a similar distance to your destination. A simple glance through the available options can save you enough for a pint later that evening. Win-win situation.
2.) Cash Out, Mobile/Online Payments In…
Society is changing their perception of cash as people are adopting the new and exciting ways of carrying wealth. We now have apple pay, contactless card payments and a multitude of online options vying for our acceptance. Parkpnp is linked with Stripe, the most innovative payment gateway since Paypal hit the scene.
3.) Residents are willing to give up their car parking space.
Peer-to-peer lending has blown up with the emergence of companies, such as Uber, Airbnb, etc. Garret Flower started Parkpnp when he needed a parking spot urgently so proceeded to ask a residential owner for permission to park in their yard. This was not an option, years ago. People were more reserved, both for personal information and their physical space. The emergence of Social Media may have helped in desensitising the public’s perception of offering information for a return (payment). And it seems to be working…
Does Parkpnp have a bright future?
There is a lot of hype around this business among users and investors. On the user side, the company is providing an excellent and innovative service in Dublin, Cork and Waterford, along with recent expansion to the Netherlands. Investors see real potential in return for their inputs in this car parking business because of the excellent platform already established. Flower closed out the latest round of funding worth €3 Million to expedite scaling the business. Parkpnp most definitely has a bright future!