Commercial parking availability in Melbourne’s CBD has fallen 7% in the past six years to just under 30,000 spaces but Nick Austin thinks he has a solution that could ease the parking spot stress.
Divvy, a Sydney-based parking web platform, is like Airbnb but for parking. It’s just begun its national expansion plan, launching in Melbourne after successfully booking the equivalent of 300,000 parking days in Sydney.
As Australia’s first parking application to take care of the booking process from start to finis, and everything in between, Divy allows people to rent out spare parking spots for up to 50% cheaper than traditional options.
And as Melbourne pushes to become more cycle- and pedestrian-friendly with major developments plans for the Docklands precinct, on-street parking is set to get culled yet again.
Nick Austin, Divvy’s founder and CEO, says he’s currently talking to a number of commercial property groups in Melbourne, after securing deals in Sydney with the likes of GPT and Knight Frank.
“As councils and state governments seek to reduce traffic congestion on our major inner city roads, finding a convenient parking space has become an ever-worsening nightmare,” Austin said.
Earlier in the year Divvy closed out a $350,000 seed round from investors, including venture technology firm Blue Chilli, and is on the verge of closing a seven-figure sum round of funding.
If business continues on the trajectory it has experienced in the past three months in Sydney, Divvy expects to triple its revenue over the next six months.
Austin told Business Insider Brisbane is next on Divvy’s list.
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