Park+ has over 700 employees across India. The company helps users find a parking spot, track challans, recharge FASTag, renew insurance, car cleaning, car maintenance, etc.
On Tuesday, car services management app Park+ said it has raised Rs 140 crore in a funding round led by Epiq Capital, Matrix Partners India, and Sequoia Capital India.
The company plans to utilize the fund to expand its presence to over 100 cities, to hire more than 200 employees, and expand its services verticals, Park+ said in a statement.
Park+ has over 700 employees across India. The company helps users find a parking spot, track challans, recharge FASTag, renew insurance, car cleaning, car maintenance, etc.
Park+ Founder and CEO Amit Lakhotia said that the company has an access control business in 20 cities, a parking business in 10 cities, a dealership business in 30 cities, and will scale up across different verticals and touch 100 cities in the next 6-8 months. Lakhotia said that the company has been making money since the beginning of the business and expects operational profit in the next financial year.
“We are excited to be deepening our partnership with Park+ and look forward to the journey ahead,” Epiq Capital, Managing Partner, Rishi Navani said.
