PARK NOW

PARK NOW Group operated as a significant entity in the digital parking services sector, originating from a 2012 joint venture between BMW Group and Urban Mobility, which first launched in San Francisco. It evolved to become the dedicated parking vertical within YOUR NOW, a broader mobility joint venture established by BMW Group and Daimler AG with a substantial investment exceeding €1 billion. This strategic collaboration aimed to integrate various urban mobility solutions, including car-sharing, ride-hailing, and charging services alongside parking.

The group's business model centered on providing a comprehensive suite of digital parking services through a mobile application. This service allowed drivers to find, reserve, and pay for on-street and off-street parking spaces electronically, eliminating the need for physical payments. The platform served individual drivers, cities, and private parking operators by simplifying parking management and payment processes. Its revenue was generated from transaction fees on parking sessions paid through the app. The service was designed to streamline the urban parking experience, reduce traffic congestion caused by drivers searching for spots, and provide a cashless, convenient solution.

Under its umbrella, PARK NOW Group managed a portfolio of well-known parking apps, including RingGo, Parkmobile, and Park-line, which gave it a substantial footprint across Europe and North America. Before its acquisition, the group was active in over 1,100 cities, serving a large user base. A key strategic milestone was the acquisition of Parkling in 2019, a data company specializing in predicting the availability of on-street parking, which enhanced its service offering. In a major industry consolidation, EasyPark Group announced its intention to acquire PARK NOW Group in March 2021, a transaction that was completed on June 1, 2021. Following the acquisition, the PARK NOW brand and its users were progressively migrated into the EasyPark application, integrating its technology and market coverage into EasyPark's global platform.

Keywords: digital parking, mobile payments, parking app, urban mobility, on-street parking, off-street parking, parking solutions, cashless parking, Parkmobile, RingGo, smart parking, parking management, BMW, Daimler, mobility services, traffic management, parking reservation, vehicle services, fleet parking solutions, urban technology