Concept

Rakna is a mobile app which allows users to buy and exchange parking spots to reduce the time taken to park. Users simply drop some details of their destination into the app, and are matched with users already parked in that area who are intending to leave. Credit can be transferred from one driver’s account to anothers, allowing them to earn extra points to redeem next time they use the app.

How they’re disrupting

Significant business time is wasted due to employees and customers struggling to find parking, travelling around the city in search of spots and adding to already congested roads. Rakna aims to help create parking spots whilst people fortunate enough to have one can make money for releasing their space, ultimately creating a marketplace for parking.

Disruption potential

Cairo business is said to lose £4 billion each year due to traffic congestion.

Investments and future

Rakna’s current focus is Cairo, where it has collected over 500 different parking places around the capital’s major areas. They plan to expand bit by bit to other crowded Arab cities, and eventually provide a global parking solution. Think the Uber of valet parking.