Parkwell

Parkwell is a digital platform addressing the pervasive challenge of urban parking, primarily targeting congested cities in Africa. The company was founded by Philip Ogunaike, an entrepreneur with over a decade of experience in business development, engineering, and operations management. The impetus for Parkwell's creation was Ogunaike's personal frustration with the difficulty of finding safe and convenient parking in Lagos, a situation he recognized also contributed to traffic congestion. Operations officially commenced in January 2023.

The business operates on a model similar to Airbnb, creating a marketplace that connects drivers with individuals and businesses that have available parking spaces. This dual-sided platform serves both drivers seeking parking and property owners, or 'Parkwell Partners', looking to monetize their unused spots. The company's revenue is generated through a commission-based structure, taking a 30% fee from the parking charges set by the space owner. Payments are handled digitally through the app's wallet or via debit/credit cards.

Parkwell's service is delivered through a mobile application that allows users to find, reserve, and pay for parking in advance. The app displays a map with available spots, pictures, rates, and reviews to help users make informed decisions. For partners, the process involves photographing their space, setting an address, and using GPS to lock the location. Parkwell then verifies the space for ownership and security standards. To build trust, the company has integrated several safety features, including identity verification and per-minute comprehensive insurance for users through partnerships with Pay-U and Curacel.

Initially launched in Lagos, Nigeria, Parkwell has expanded its presence to Dakar, Senegal, and also lists locations in the US and Canada. The platform has registered over 80 parking lots, encompassing more than 2,000 parking spaces, and attracted over 3,150 users shortly after its launch. The company has participated in the Startupbootcamp AfriTech accelerator program, securing pre-seed funding to fuel its expansion into other African nations. Its service portfolio is also expanding to include car park management, electric vehicle charging options, and valet booking.

Keywords: smart parking, peer-to-peer parking, urban mobility, parking management, Africa tech, digital parking solutions, on-demand parking, car park marketplace, mobile parking app, parking reservation, vehicle services, smart city technology, Lagos tech startup, Philip Ogunaike, Startupbootcamp AfriTech, parking revenue, shared economy, property technology, parking insurance, EV charging Africa