ParkSpot
ParkSpot (NeoSpot Technologies Pvt Ltd) is an Indian digital marketplace that connects individual vehicle owners with spot owners for guaranteed monthly car parking in Bengaluru, Hyderabad, Chennai, and Kolkata, earning revenue via transaction-based service fees and an ancillary car wash offering.
- Company typePrivate
- Founded2019
- HeadquartersBangalore, India
- Headcount1–10
- GTM typeB2C
- OfferingDigital Commerce or Content
What ParkSpot does
ParkSpot (legally NeoSpot Technologies Pvt Ltd, registered in Jharkhand, India) is a digital marketplace that connects individual vehicle owners seeking monthly car parking with property owners who have idle or vacant parking spaces. The platform is headquartered in Bengaluru and operates in four Indian cities — Bengaluru, Hyderabad, Chennai, and Kolkata — serving a claimed base of 1000+ spot owners and 5000+ customers. Its core product consists of a web platform (parkspot.in) and native iOS/Android applications through which users can search, compare, and reserve parking spots, with monthly rents typically ranging from ₹2,500 to ₹5,000 depending on city and neighborhood.
The technology stack is conventional marketplace infrastructure: location-based search and filtering (by coverage type, vehicle size, duration, and security features), GPS-coordinate navigation to the exact parking space, digital KYC verification of both vehicle owners (government ID, RC/insurance) and spot owners (ownership documents), and digital payment processing through Cashfree Payments. Google Analytics 4, Google Tag Manager, and Google Ads support marketing attribution and paid acquisition. A Fastag Parking Payment Service was added in December 2023, and a doorstep car wash add-on service (starting at ₹1,499) extends the offering into adjacent vehicle-care services.
ParkSpot generates revenue primarily through transaction fees: a monthly service fee deducted from rent paid by vehicle owners before the remainder is settled to spot owners, and a one-time service fee charged to vehicle owners (refundable until booking confirmation, non-refundable after). The company is privately held, bootstrapped with no disclosed external funding, employs 1–10 people, and operates via a self-serve, product-led growth motion supplemented by WhatsApp-driven customer support. Ownership is founder-controlled and no institutional investors are referenced in available material.
ParkSpot firmographics
Firmographics- Name
- ParkSpot
- Legal name
- NeoSpot Technologies Pvt Ltd
- Website
- https://parkspot.in
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- ParkSpot (NeoSpot Technologies Pvt Ltd) is an Indian digital marketplace that connects individual vehicle owners with spot owners for guaranteed monthly car parking in Bengaluru, Hyderabad, Chennai, and Kolkata, earning revenue via transaction-based service fees and an ancillary car wash offering.
- Ownership category
- akta.pro rank
ParkSpot industry classification
Industry- Product category
- Parking Marketplace Services
- NAICS
- Parking Lots and Garages (81293)
- SIC
- Services-Automotive Repair, Services & Parking (7500)
- akta.pro primary industry
- Shared Parking & Marketplace Platforms (B2B/B2C Space Sharing, Aggregators) (TLAJAIAH)
- akta.pro secondary industries
- Off-Street Parking Facilities Operations (Garages, Lots, Park-and-Ride) (TLAJAIAB), Parking Facility Operations (Garages, Lots, On-/Off-Street) (BPABAKAA)
Keywords
Where ParkSpot is headquartered
LocationHeadquarters
- HQ city
- Bangalore
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
ParkSpot business model
Business model- GTM type
- B2C
- Offering type
- Digital Commerce or Content
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Monthly Service Fee (Spot Owners): ParkSpot charges spot owners a monthly service fee for each parking spot booked through the platform. The fee is deducted from the rent collected from vehicle owners before the remaining amount is deposited to the landlord's bank account.
- One-Time Service Fee (Vehicle Owners): A one-time service fee is charged to vehicle owners before receiving the spot owner's contact details. This fee is refundable if the user chooses not to book, but becomes non-refundable once booking is confirmed.
- Car Wash Services: Additional service offering full exterior steam wash, interior vacuuming, dashboard cleaning, and wheel treatment starting from ₹1499.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Spot Owner Monthly Service Fee |
| Transaction based/ take rate | Pay-as-you-go | One-Time Service Fee (Vehicle Owner) |
| Unit Pricing | Monthly | Monthly Parking - JP Nagar |
| Unit Pricing | Monthly | Monthly Parking - BTM Layout |
| Unit Pricing | Monthly | Monthly Parking - Hyderabad |
| Unit Pricing | Pay-as-you-go | Full Car Wash Service |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
ParkSpot product offering
Product offeringCore offering
ParkSpot operates a two-sided online marketplace that connects individual vehicle owners seeking monthly car parking with property owners who have unused or vacant parking spaces to rent. The platform enables search, comparison, and guaranteed reservation of monthly parking spots across Bengaluru, Hyderabad, Chennai, and Kolkata, with verified security features, digital KYC for both supply and demand sides, and integrated digital payments. An additional doorstep full car wash service is offered as a paid add-on starting from ₹1,499.
Product overview
ParkSpot is a single-platform parking solution offering monthly car parking services through both a web platform (parkspot.in) and mobile applications for Android and iOS. The core product enables vehicle owners to find and book monthly parking spots while spot owners can list their vacant spaces for rental income. Additional services include a full car wash add-on. The platform operates across multiple cities including Bangalore, Hyderabad, and Chennai with features covering navigation to parking locations, secure booking management, KYC verification, and payment processing through Cashfree Payments.
Differentiator
Problem solved
Functional benefit
Products and services
- Monthly Car Parking Service
Quantifiable outcome
- Save up to 20% on parking compared to other platforms
- +3 more outcomes
Companies that use ParkSpot
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles2 records
ParkSpot technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature5 records
ParkSpot partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- Google AdsminorAdvertising and conversion measurement platform. Uses hashed contact data (SHA-256) for marketing campaign attribution. Plain-text contact data is never shared with the advertising platform.
- Cashfree PaymentscorePayment processing partner for handling digital transactions between vehicle owners and spot owners. Enables rent collection, service fee processing, and secure fund transfers through ParkSpot's platform.
Scale indicators8 records
Recent moves5 records
Expansion highlights5 records
ParkSpot competitors and assessment
Company assessmentDirect peers
- JustPark: JustPark is a UK-based marketplace that books parking spaces from private driveways and commercial car parks. Its model — monetizing underused private parking via a peer-to-peer platform — is directly analogous to ParkSpot's India-focused offering.
- Park+: Park+ is India's largest parking aggregator and valet operator, offering monthly and on-demand parking bookings across multiple metros. It directly competes with ParkSpot for both vehicle owners and parking spot owners in Bengaluru and other shared cities.
- Get My Parking: Get My Parking operates a B2B/B2C parking platform connecting motorists with parking inventory across India, including monthly and short-term rentals. It is highly comparable in product scope, technology stack, and target customer base to ParkSpot.
Regional players
- ParkBee: ParkBee is a European parking marketplace digitizing underused parking garages and offering them via app to drivers. It is comparable in marketplace model and target use case (urban monthly/short-term bookings), though primarily European in scope.
Broad incumbents
- SpotHero: SpotHero is the leading North American online parking marketplace, connecting drivers with thousands of garages, lots, and valet services. It is comparable to ParkSpot as a marketplace aggregator model, though at vastly greater scale and geographic breadth.
- EasyPark: EasyPark is a European parking tech company providing digital payments, navigation, and aggregation for on- and off-street parking. While broader in scope, its aggregation and digital booking functions overlap with ParkSpot's marketplace offering.
Emerging players
- Pavemint: Pavemint is a peer-to-peer parking marketplace in the US that lets private spot owners rent out unused driveways and lots. It is comparable to ParkSpot in supply-side onboarding of individual owners and reservation-led booking.
- YourPark: YourPark is an Indian parking solutions startup offering monthly and hourly parking through partnerships with residential and commercial properties. It competes with ParkSpot in the Indian monthly parking segment with a more enterprise/B2B tilt.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
ParkSpot compliance and trust
Trust signalCompliance1 record
ParkSpot financial estimates
Financial estimateRevenue estimate
Valuation estimate
ParkSpot leadership team
Management profileNumber of profiles
ParkSpot funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ParkSpot M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ParkSpot
What does ParkSpot do?
ParkSpot operates a two-sided online marketplace that connects individual vehicle owners seeking monthly car parking with property owners who have unused or vacant parking spaces to rent. The platform enables search, comparison, and guaranteed reservation of monthly parking spots across Bengaluru, Hyderabad, Chennai, and Kolkata, with verified security features, digital KYC for both supply and demand sides, and integrated digital payments. An additional doorstep full car wash service is offered as a paid add-on starting from ₹1,499.
Is ParkSpot a public or private company?
ParkSpot is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ParkSpot founded?
ParkSpot was founded in 2019. It employs 1 to 10 people.
Where is ParkSpot based?
ParkSpot is headquartered in Bangalore, India, in the Asia region.
How does ParkSpot make money?
Three revenue lines are on record. Monthly Service Fee (Spot Owners) is the primary driver. The others are one-Time Service Fee (Vehicle Owners) and car Wash Services.
Who are ParkSpot's main competitors?
Direct peers on record are JustPark, Park+ and Get My Parking. ParkBee is listed as a regional player. Broad incumbents are SpotHero and EasyPark. Emerging players are Pavemint and YourPark.
Does ParkSpot have an API?
No public API is recorded for ParkSpot.
What industry is ParkSpot in?
ParkSpot's product category is Parking Marketplace Services. Its primary akta.pro industry code is TLAJAIAH, Shared Parking & Marketplace Platforms (B2B/B2C Space Sharing, Aggregators), with a secondary code of TLAJAIAB, Off-Street Parking Facilities Operations (Garages, Lots, Park-and-Ride). Its NAICS code is 81293 and its SIC code is 7500.