Parkable

Executive Summary

Parkable is a company from Auckland that provides a digital system for managing parking spaces. It connects people who own office buildings or land with more than 500,000 people who have signed up to use the service in New Zealand, Australia, and the UK. The company makes money in two ways: it charges big businesses a regular fee to use the software and it takes a small cut of the payment every time someone books a spot through the app. This technology helps automate parking gates and mobile bookings. Parkable currently brings in $20 million in sales. Right now, the company is choosing to focus on growing around the world and adding smart internet-connected hardware rather than making a profit. Because of this focus on growth, the company had a total loss of $5 million. Parkable stays ahead of rivals by using its own special tech that allows employees to share parking spots, which saves big companies time and money on office management. The business is growing because it moved into the UK market and made deals to turn empty or unused property into digital parking spots. Parkable is an important firm in the push to update city systems with digital tools. This is a chance for investors to get involved in the future of city travel and property technology.