With Covid19 pushing more and more drivers to opt for cashless payment and triggering a recent spike in new car registries, inner-city parking space is increasingly becoming a scarce commodity. There is also a drastic need for digital solutions. A German startup, that has built technology to help run parking lots more efficiently and to easily integrate mobility services, is now announcing a major growth round of funding.
Peter Park, which is already used by parking lot operators on more than 60 sites across Germany has raised several million euros in funding. The founding team of Maximilian Schlereth, Florian Schaule, Patrick Bartler, and Stefan Schenk was able to win a German family office as an investor. The software is used to facilitate payments as well as parking-permits. All car entries and exits are registered and can be easily monitored, allowing for a real-time administration that can be done completely remotely. The system stands out, as it doesn’t depend on physical barriers to control access to parking; instead, there is free flow at all entries and exits. Thus, the cloud-based Peter Park platform truly unlocks the potential for optimizing the use of inner-city space. "We are currently experiencing a radical change in both, the industry and society, towards efficient and sustainable traffic guidance in congested city centers. We want to actively support this trend by leveraging the possibilities of IoT in urban off-street parking," the founding team says.
Contactless payment via an app, convenient on-site payment at vending machines with a large touch display, dynamic parking space utilization, or data-based parking space optimization are just a few examples that underline the potential of the system. The SaaS solution is aimed at local authorities and private parking operators, who can significantly reduce their operating costs and increase revenues by digitizing their infrastructure.
Peter Park positions itself as an integrating platform and interface in the urban mobility ecosystem. Starting out with Parkster in 2019, the leading parking apps of Europe ParkNow, PayByPhone and EasyPark were successfully integrated onto the platform. In close partnership with these app partners, numerous supermarket parking areas have already been opened for residents in need of night-time parking. This effect corresponds exactly to Peter Park's vision of transforming parking spaces into interconnected mobility hubs.
The funding will go to growing the team and the upcoming internationalization. Both product and sales capacities will be significantly increased. However, the development of further partnerships remains at the core of the Peter Park platform in order to continuously increase the added value for customers and the mobility ecosystem.
About Peter Park
Peter Park is a digital parking system for parking space operators. It includes (1) an automatic license plate detection and (2) a cloud-based operator dashboard. The system allows for fully automated parking space surveillance, flexible adjustment of system settings by the operator, platform integrations with leading mobility services, and continuous, data-based optimization of space utilization and customer value