Private park lease revolution

Online private park leasing platform Divvy Parking secures further investment in Australia

Private park lease revolution
Divvy Parking founder and CEO Nick Austin is confident in the huge commercial potential of leasing unused private CBD car parks

Empty private parking spaces going to waste in Australian cities, will be put to good use following the development the innovative Divvy Parking platform.

The platform enables commercial property owners and managers to maximise the value of their parking assets, and gives commuters access to an entirely new network of thousands of CBD parking spaces.

 "The demand for convenient short-term and long-term parking is only increasing amongst commuters who are pushing for a smarter, more accessible, flexible connected cities, the likes of which are already developed abroad," Divvy Parking founder and CEO Nick Austin says.

"These business milestones are the next step toward Divvy’s goal of improving Australia’s transport and parking problem."

Divvy Parking is currently working with Transport for NSW (TfNSW) to help implement smart technology solutions to ease congestion issues associated with light-rail construction in Sydney’s CBD, and will expand into Brisbane and Melbourne this year.

"We’re about to begin rolling out our short-term mobile access technology in select commercial properties across the CBD areas of Sydney, Melbourne and Brisbane, following a very successful trial period," Austin says.

"We’re currently eyeing Asia for international expansion, particularly China, where car ownership is expected to grow by roughly 10 per cent per year and congestion issues continue to plague major cities."

The organisation secured $2.5 million in additional funding from investors in Australia and Hong Kong recently, bringing Divvy’s total market investment to $5.3 million.

Following a successful pilot in Sydney, the funding will go toward the roll-out of Divvy’s mobile building access technology across Australian CBDs.

Parking spaces are bookable daily and monthly and will soon be available by the hour.

The organisation has also revealed a number of strategic additions to the team, including prominent businessmen Steve Vamos and Peter Gammell, and Microsoft’s former head of research and development James Simpson.

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