Bengaluru-based Get My Parking is a SaaS based company that connects different make and type of parking infrastructure, giving complete visibility and control to the parking operator or city council.
The firm recorded a revenue of Rs 21.8 crore in FY23, a 44% growth from the preceding fiscal’s Rs 15 crore.
While FY23 saw over Rs 19 crore coming in from operations, FY22 had over Rs 13 crore from operations.
Founded by Chirag Jain and Rasik Pansare, Get My Parking is currently present across 4 countries and claims to process over 2 million transactions per month. aims to create future-proof parking technology and connect parking industry internally as well as with urban mobility players.
The 2015 established automotive tech firm has secured over Rs 70 crore through 4 different fundraises. It last raised more than Rs 40 crore led by IvyCap Ventures in 2021.
Its current valuation is at Rs 151.2 crore.
While the company’s major shareholder is founder Chirag Jain, investor IvyCap Ventures and co-founder Rasik Shivaji Pansare also hold significant shares in the company.
As for expenses, employee benefit was a major expense taking up over 73% of the overall expenditure. Legal charges and depreciation took up over 2% each in FY23.
Its overall expenses ballooned 60% to Rs 36.8 crore in the fiscal year ending March 2023. The company witnessed a total expense of close to Rs 23 crore in FY22.
Get My Parking incurred losses amounting to about Rs 15 crore in FY23, an almost two fold rise from the preceding fiscal’s Rs 7 crore. Its current EBITDA stand at -64.94% and ROCE is at -58.46%.