Parking Duck promises to find a space to park your vehicle wherever you go

Densely populated Bangkok has around 7 million registered cars, but only 400,000 parking spaces, a reality that former IBM consultant Paruey Anadirekkul found frustrating whenever he visited clients. As it turns out, many of these lots are owned by homeowners at their condominiums, apartments, and homes, giving him the idea to find information on the nearby estates to find a parking space that he could rent.

Having successfully done that, Anadirekkul decided to launch an online marketplace for parking spaces called Parking Duck. Here’s how it works: homeowners and anyone with available spaces can put them up for rent, and those who are in need of a parking lot can search for them via an interactive map, and seal the deal with payment made directly on the website.

According to Anadirekkul, demand has been overwhelming. In the past three months, 330 drivers have registered, but with only 134 hosts onboard. 26 bookings for a total rental period of 103 months have also been made since its launch in December last year. Kuala Lumpur, Jakarta, and Hong Kong – all bustling cities – are some of the destinations that Parking Duck might go to after conquering Thailand.

Parking Duck is one of ten Startup Arena participants taking the stage today at Tech in Asia Singapore 2015. The judges were largely concerned with security. How are the “rightful” owners of the parking space determined, and is there an insurance plan in place for them? Anadirekkul says that property owners officially own the right to their parking space, and should have the right paperwork to show that.

As for insurance, he admits that it is important, however this will only be looked into after securing the next round of funding. For now, the Parking Duck team is more concerned about finding more supply to meet the overflowing demand, which results in many users being unable to rent spaces, something which YCombinator’s Kevin Hale pointed out. Parking Duck is now talking to real estate agents, private and commercial garages, as well as Airbnb to find that very supply.

This is part of the coverage of Tech in Asia Singapore 2015, our event running on May 6 and 7. Check out all the Startup Arena pitches here.