Docklands Ventures acquires South African proptech startup ParkUpp
Real estate investment company Docklands Ventures has acquired South African proptech startup ParkUpp for an undisclosed amount.
Founded in 2016, ParkUpp is a marketplace that connects owners of parking spaces with companies and individuals who need parking. The website focuses on daily to monthly parking, providing a seamless booking and payment system. Property owners benefit by not having to source, sign, or secure payment from a new tenant.
The startup’s solution is used by listed property funds across the country including shopping centres, private parking facilities and co-working spaces. In 2021, the company announced its new brand Troob: an airbnb-like platform for art galleries, photo studios, film sets - set to launch in New York in early 2022.
Mark, the CEO of Docklands, said this is a great addition to his portfolio of companies and he plans to use the synergies across them all to create a powerful ecosystem of proptech ventures in South Africa.
Mark Bradford, CEO, Docklands Ventures: “ParkUpp is an innovative market leader. Docklands is excited to continue the legacy and grow the brand. I wish Palesa and team the best with Troob as they venture to New York to start a new chapter.”
The acquisition of assets increases the Dockland Ventures portfolio of prop tech activities, solving unique problems and driving innovation across for the real estate market.
Palesa Moloi, CEO, ParkUpp: “This is my first exit as an entrepreneur I couldn’t be more proud of hand it over to an experienced individual like Mark who not only brings experience but his vast network too - I believe ParkUpp is in safe hands and will continue to prosper and grow.”
www.parkupp.co.za
www.docklandsventures.com
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