YourParkingSpace.co.uk, a UK-based parking business, has formed a strategic partnership with Australian parking startup, Parkhound.

Both companies function as online parking marketplaces, allowing individuals and commercial owners to list their unused parking spaces for rent on the websites, so that others can then rent out these spaces on a long or short-term basis. These online platforms, coined as ‘Airbnb for parking’, give drivers a better choice, helping them to find safe, convenient and reliable parking in their area.

YourParkingSpace.co.uk was founded in 2006, and has since been expanding its reach. There are now 250,000 parking spaces listed on the site, and YourParkingSpace manages 1,500 rentals across the UK. Parkhound, formed more recently in 2013, is seeking to replicate the model over in Australia.

Being based in different countries and time zones at first could have seemed like a limitation on the partnership, however due to the two businesses working in non-competing markets they can afford to team up and share knowledge, insights and technology. YourParkingSpace can contribute experience, and aid with the scaling up process of Parkhound, while Parkhound will offer new developments, such as an innovative parking sign capability, for UK trials run by YourParkingSpace.

The co-founder of Parkhound, Michal Nuciforo, said:

“Working with YourParkingSpace.co.uk has allowed us to quickly and easily implement new enterprises in Australia that have been proven in the UK. We have also started to share some of our key insights and will be progressing with co-trialling some of our new features in the UK market.”

Harrison Woods, Managing Director of YourParkingSpace.co.uk, added:

“We love solving problems for businesses and are really enjoying the ongoing collaboration with Parkhound. We relish the fact that we are helping Australia’s Number 1 car parking marketplace expand and assist more drivers in finding affordable parking.”

Both companies will profit mutually from the collaboration, which will help the respective businesses optimise their customer experience and stimulate growth.

Nuciforo closed by championing this type of partnership, stating: “I think all Australian start-up businesses should identify a comparable business operating in a non-competing market to see if they can establish a partnership.”