Collaborative Parking Startup Zenpark Raised €6.1M

French collaborative parking startup Zenpark has announced today a funding round of €6.1 million to develop its business that consists in monetizing unused parking spaces in large cities.

The new investors in the company are MAIF Avenir and DEMETER Partners (already an investor), as well as Frédéric Mazzella, the co-founder of BlaBlaCar. Zenpark has raised €8 million to date.

Zenpark was created in 2011 and their turnover in 2015 was €600,000. They work primarily with hotels, administrations, and owners of large residential buildings that have an inventory of parking places underutilized.

The startup equips the parking for free with a system that automatically opens the gate to Zenpark users (via a mobile phone or a remote control) and they share revenue with the owner.

With this funding the company targets to have 1,000 shared parking within the next two years, reinforcing its position of leader in France and starting in other countries in Europe. The company currently opens 15 new parking per month with partners.

With 20 employees today the company forecast to double its staff by the end of the year.

William Rosenfeld, the CEO of Zenpark, was among the speakers at the ConnecteDriver conference organized by GPS Business News last January, where smart parking professionals had converged to discuss the future of the industry.

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