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BMW invests in online parking marketplace

Date: 20 July 2011

BMW has invested in UK website, an online parking marketplace which connects homeowners with driveways, garages and private parking spaces to rent to driVers who need a place to park.

BMW I Ventures, a venture capital company set up by BMW Group to invest in companies which offer a solution to improve urban mobility, has taken a minority stake in the website.

More than 125,000 drivers are registered on the site which claims that collectively drivers have saved more than £3 million in parking charges in the last 12 months from renting a private space on the website rather than using public car parks and metered street parking.

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