Docklands Ventures aquires ParkUpp 

ParkUpp (Pty) Ltd has now sold its parking business, website, brand and data to SA-based firm, Docklands Ventures, for an undisclosed amount.

South African startup ParkUpp, a growing presence in the parking marketplace, has been acquired by real estate investment company Docklands Ventures, owned by ex-JLL Chairman for Sub-saharan Africa, Mark Bradford.

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.

ParkUpp (Pty) Ltd has now sold its parking business,  website, brand and data to SA-based firm, Docklands Ventures, for an undisclosed amount. Mark, 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 prop-tech ventures in South Africa.

“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.”

– Mark Bradford, CEO of Docklands Ventures.

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.

“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.”

– Palesa Moloi, CEO of ParkUpp.

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