Park+, a smart parking solutions startup launched by ex-Paytm VP Amit Lakhotia, has entered into a partnership with digital payments platform PhonePe. The strategic partnership is aimed at leveraging PhonePe’s over 200 million users and making Park+ parking and digital payment options available on the PhonePe app.
Park+ app will be available under ‘Switch’, PhonPe’s platform solution that allows users to switch between more than 200 apps within the PhonePe app. PhonePe users can now use Park+’s parking solutions in a seamless and hassle-free manner.
The partnership comes during India’s ‘Unlock’ phase, where businesses are reopening and people are stepping out after 4 months of strict COVID-19 induced lockdowns. There is a substantial increase in the number of cars on the road, especially in metro cities such as Delhi. This greatly increases the need for digital parking solutions that are not just convenient but also contactless to ensure the containment of the spread through ample physical distancing.
Speaking on the partnership, Amit Lakhotia, Founder, Park+, “The overarching idea behind Park+’s solutions is convenience – it gives users freedom from wasting 10 minutes looking for parking every day, the ease of booking parking slots online to get the peace of mind that their car is in a safe spot and the added advantage of a ticketless experience through digitally-powered payments. Now that people are resuming their normal schedule, the need for our solutions is set to witness a rapid increase. The collaboration with PhonePe will allow us to capitalise on the increase in demand in a better way by reaching a larger section of our target audience through the platform’s tech-led platform.”
Founded in September 2019 by Amit Lakhotia, an IIM Ahmedabad alumnus, Park+ is a smart parking solutions brand. It allows users to discover parking, book their slots, and pay digitally. Park+ has raised $12 million in funding from marquee investors such as Sequoia Capital and Matrix Partners, along with angel investments from industry stalwarts including Deep Kalra, Ashish Hemrajani, Kunal Shah, Kunal Bahl, and Rohit Bansal.
Commenting on the development, Rituraj Rautela, Head of PhonePe Switch said, “We are excited to have Park+ as a partner on PhonePe Switch. Our users can use Park+ services to avoid the hassles of looking for a safe space and waiting for an attendant to give a parking ticket. With this solution, they can complete the entire process in a couple of minutes from within the PhonePe app itself. With over 200 partners on PhonePe Switch currently, our effort has been to build a comprehensive ecosystem that offers our users a very convenient way to access and engage with multiple apps, while enabling faster customer acquisition and higher engagement for our partners."