Amplify Startup Spotlight: ParkingKoi

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ParkingKoi™ was part of our first Amplify cohort, Amplify is a 6 module program that delivers a how-to guide to raising investment. Join now.

“It doesn't matter if you are an early stage founder or a growth founder, Amplify will help you to discover yourself as a founder and you will learn lots of new techniques from industry leaders and if you can implement those in your business it will help you a lot.” Rafat Rahman, ParkingKoi™

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JOIN AMPLIFYJOIN AMPLIFY

ParkingKoi™ was part of our first Amplify cohort, Amplify is a 6 module program that delivers a how-to guide to raising investment. Join now.

“It doesn't matter if you are an early stage founder or a growth founder, Amplify will help you to discover yourself as a founder and you will learn lots of new techniques from industry leaders and if you can implement those in your business it will help you a lot.” Rafat Rahman, ParkingKoi™

STARTED IN 2018, PARKINGKOI™ IS TRANSFORMING HOW PEOPLE FIND PARKING SPACES IN BANGLADESH WITH PLANS TO EXPAND TO PAKISTAN AND NEPAL. HERE WE TALK TO FOUNDER RAFAT RAHMAN ABOUT THEIR STARTUP.

ABOUT PARKINGKOI™

Tells us about ParkingKoi™

ParkingKoi™ is a platform that unlocks the hidden parking spaces in big metropolitan cities in Bangladesh and connects parking seekers with nearby underutilised areas.

Imagine, you have a spacious and unoccupied space or lawn in front of your house, but you do not have a car. You can simply rent it out on Parking Koi and the clients would put your unused space into use by parking their car. Parking Koi functions as a bridge between parking space owners and subscribers.

What problem are you solving?

Dhaka the capital of Bangladesh is one of the densest cities in the world and with other problems, Dhaka is facing another biggest problem and that is traffic and one of the biggest causes of this traffic problem is parking. That’s what we are working on solving.

How does ParkingKoi™ work?

ParkingKoi™ is digitising the parking industry. The app we created helps drivers to book parking spaces. We bring that about by connecting people or organisation who has empty and unoccupied  parking spaces, allowing drivers to find safe parking and aiding homeowners makes a decent, yet lucrative income and render their unoccupied space, commercial institution by letting the parking spaces being effectively used

ParkingKoi™ is more than just another parking app. We’re all about big data with big detail. ParkingKoi™ has created a content management system called The Parking Platform™ that understands every possible rule, restriction and tariff from the fragmented world of the public and private parking sector. In short we’re providing the world’s first standardised parking data set and search engine for on and off street parking.We are here to transfigure and restructure the parking industry and facilitate a better parking atmosphere for the next-generation.

What market are you focused on?

Currently, we operate in three cities in Bangladesh. We already have over 50k parking spaces and are providing parking to 160k active users. We are also providing parking solutions to some of the renowned brands in Bangladesh. Like Honda Bangladesh, Mercedes Benz, Food Panda, Bangla Track, Wartsila Bangladesh, and many more.

What’s next for your startup?

As 65% of our customers are bike users, we are working on starting to introduce a service platform for motorbikes to get servicing, insurance and accessories from our ParkingKoi platform. We are also preparing to launch our parking platform in Nepal and Pakistan.

Are you currently fundraising?

Currently, ParkingKoi™ is growing 30% to 40% every month but we realise we have an opportunity to take this growth to three digits and that is why we are currently Raising USD$500k and planning to close this round by June 2021.

THE ACCELERATING ASIA AMPLIFY EXPERIENCE

Why did you join Amplify?

As we were so focused on the growth of our company we had a lack of knowledge about raising funds. So we joined Amplify to learn how we can put parallel efforts on growth and do the fundraising.

What was your biggest takeaway from Amplify?

I learned a lot from Amplify but my biggest takeaway was how it teaches us the way to present our business to investors, so investors get interested in investing in us.

Why would you recommend Amplify to fellow founders?

It doesn't matter if you are an early-stage founder or a growth founder, Amplify will help you to discover yourself as a founder and you will learn lots of new techniques from industry leaders and if you can implement those in your business it will help you a lot.

What was the highlight of the program?

Amplify is a 6 module virtual course that teaches us how to measure traction and help us to get ready for investors.

ParkingKoi™ was part of our first Amplify cohort, Amplify is a 6 module program that delivers a how-to guide to raising outside capital and 10x’ing your startup growth. Doors are now open to join Amplify until January 18. Join Amplify.

If you are interested in connecting with ParkingKoi™ , please reach out to us and we can help faciliate an introduction.

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