Parkpnp raises €500,000 to roll out new cloud-based solution

Irish start-up Parkpnp has raised an additional €500,000 from investors including former Europcar Ireland managing director Colm Menton, to roll out its latest parking management solution across Europe and the United States.

The latest fundraise brings total investment in the company to €4.1 million.

Green investment company BVP, whose portfolio includes Irish companies Urban Volt, Crowley Carbon and Accuflow, also returned as a backer.

Parkpnp allows individuals and companies to let unused car-parking spaces via its mobile platform. Its recently launched ParkOffice application is a software-as-a-service (Saas) product that allows companies to increase the amount of parking available to staff by releasing assigned space when employees are out of the office.

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New solution

The start-up, which was founded by Garret Flower and Daniel Paul in 2016, said it has already recruited a number of corporate clients for the new solution, including Colliers International and Europcar.

“We’ve become something of a magnet for companies looking toward technology to improve parking issues. We noticed while many companies thought they needed extra space, in fact they just needed a solution to help them ensure their existing spaces are in use all of the time. We’ve been developing ParkOffice for over a year now and are really looking forward to the impact this product will have across the world,” said Mr Flower, Parkpnp’s chief executive.

Parkpnp claims more than 40,000 drivers use its services across Ireland, Belgium and the Netherlands. The company, which is looking to conduct its first trial in the US shortly, recently won the sustainability category in the Irish Times Innovation awards.