Car services startup Park+ expects to turn profitable in March 2024

Car Care Services Startup Park+ Expects to Turn Profitable in Early 2024

Park+, a car care services startup, is expecting to turn profitable by the January-March 2024 quarter and close the current fiscal year with over Rs 200 crore in revenue. This positive outlook is based on the company's strong growth trajectory and plans for further expansion.

Park+ provides a wide range of car care services, including parking, car cleaning, and car repair. The company's app allows users to easily book and pay for these services. Park+ has operations in over 30 cities and plans to expand to over 100 cities by 2024.

The company is backed by Epiq Capital and has raised $55 million to date. Park+ has now posted a loss of around Rs 99 crore and revenue of Rs 103 crore in the financial year 2022-23.

Park+ is committed to providing car owners with a convenient and hassle-free experience. The company is also looking to grow its customer base by adding more services, such as roadside assistance, insurance services, and electric vehicle charging.

Park+ is a promising startup with a bright future. The company is well-positioned to capitalize on the growing demand for car care services in India.