YourParkingSpace offers a parking discovery and booking mobile app, where users can search and book parking spaces in the UK on an hourly, daily, or monthly basis. The parking spaces on the platform are supplied by more than 45,000 registered parking space owners, which include both private homeowners as well as car park operators such as Tesco, Morrisons, and Premier Inn.
The firm charges a booking price and service fee for daily and hourly parking. The firm also offers monthly subscription-based parking for long-term parking needs. Parking space owners can set static or dynamic pricing with YourParkingSpace adding a 20% uplift to the rental amount. The firm claims that, using its platform, landlords are able to earn on average GBP 1,020 per year.
In 2018, YourParkingSpace’s founders also formed Parkmaven, a B2B solution for parking operators that provides online bookings and insights on parking asset utilization and enables dynamic pricing.
Key customers and partnerships
As of March 2022, the firm had more than 350,000 parking spaces available to reserve in towns and cities, airports, train stations, and stadiums across 50+ cities in the UK.
Funding and financials
The firm raised GBP 5 million (~USD 6.5 million) in a venture capital round of funding in September 2020 led by Pelican Capital. The funding would be used by the firm to further develop its platform and support its growth where it expects to grow its team by 40 within 12 months across technology, sales, and marketing.
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