“Hitesh has been an integral part of Park+’s journey. He has over the years nurtured Park+’s technology vertical from scratch, which now houses some of the brightest talents in the company. His elevation as a co-founder is a reflection of his talent, commitment and execution excellence,” Park+ founder and chief executive officer Amit Lakhotia said in a statement.
Both Gupta and Lakhotia are former Paytm executives.
“I have known Hitesh for a long time now and am confident that he will continue to deliver spectacular results and supercharge Park+’s growth trajectory. Park+ will now have a double-engine leadership,” he added.
Prior to joining Park+ in January 2020, Gupta was associated with Paytm as head of engineering – payment. He had a stint with Oxigen as its chief technology officer. He also co-founded digital financial transaction platform PayMonk.
“We took up car ownership related problems, which no one was ready or willing to solve – be it parking, be it access control (car security), be it car maintenance, organising car cleaning (digitally) and made it effortless…It will be my endeavour to supercharge Park+’s tryst with customer delight for all Indian car owners and build a truly authentic super app within the auto-tech ecosystem,” Gupta said
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Launched in July 2019, Park+ initially offered corporate parking solutions but the use-case lost traction during the Covid-19 outbreak, pushing the company to pivot into a one-stop solution for car owners through a super app that it launched in 2021.Park+ offers services such as parking solutions, FASTag management, car insurance, automated vehicle access control systems, daily car wash and EV charging stations.
The company, which positions itself as a superapp for car owners, recently raised funds in its Series C round that valued the startup at $340 million.
Speaking to ET last month, Lakhotia had said that the latest fundraise gave Park+ an additional runway of 35-40 months. The company currently has 6 million car owners on its platform and is present in more than 25 cities.