PropTech PAYUCA acquires Series A investment

Vienna, February 21, 2023 – Vienna-based PropTech PAYUCA has made it its mission to make parking and charging cars in residential rental buildings as easy as possible. Now the company successfully closed its Series A financing round.

Known for its PAYUCA Smart Parking app with over 50,000 registered users, which enables short-term parkers in Vienna to locate and use available parking spaces in private underground garages quickly and easily, PAYUCA has now expanded its business model to include the digitization and electrification of the entire garage, especially in residential rental buildings. Today, the upcoming company is led by Co-Founder and Co-CEO Dominik Wegmayer and his brother, Co-CEO Wolfgang Wegmayer.

PAYUCA as an ideal partner for the housing industry

With its short-term parking app, PAYUCA enables housing companies and rental building owners to efficiently provide unrented and thus vacant parking spaces to short-term parkers and thus generate an additional income. All this works via the intelligent access system installed by PAYUCA for all relevant gates, entrance, and intermediate doors in the building, which is controlled via an app. PAYUCA takes care of the entire transaction with the short-term parkers and pays the generated revenue directly to the owners. Via a dashboard, PAYUCA also enables property managers to handle the garage management of long-term parkers via their intelligent access system. This not only makes keys and remote transmitters obsolete, but also saves property managers the enormous administrative effort involved in handovers, handling deposits, and in the case of loss or theft of keys or cards. Since 2021, PAYUCA has also been offering rental house owners uncomplicated pre-fitting of e-charging stations for permanently rented garage parking spaces with their product "Smart Charging".

In autumn 2022, PAYUCA also expanded its business model to the German market: With the Berlin housing company degewo, a German big player has already been won, and since then the first underground garages of Berlin apartment buildings have already been completely digitalized and electrified.

New capital for the German roll-out

The newly acquired capital from the Series A financing round will now be used for the further expansion of PAYUCA in Germany. In addition to Berlin, other major German cities are to follow soon. The aim is to convince the German housing industry of PAYUCA's smart complete solutions. The financing round was raised by the international investor ABB E-mobility AG. The exact amount of the investment was kept confidential.

About PAYUCA

PAYUCA aims to make off-street car parking and e-charging as easy as possible. With the PAYUCA Smart Parking app, the Austrian company has been successfully covering short term parking needs for more than 50,000 registered users at over 100 garage locations in Austria and Germany since 2017. With its solutions for the housing industry, PAYUCA focuses on classic residential rental buildings with a simple ownership structure. Property owners and property managers can thus not only monetize their vacant parking spaces and manage their long-term parkers easily and digitally, but also cost-effectively pre-equip their garage for the ramp-up of e-mobility. PAYUCA currently employs around 35 people.

Further information: www.payuca.com/en

Photo credit

The use of the pictures is free of charge for editorial purposes if the photo credit "Philipp Schuster" is mentioned.

Contact and queries:

PAYUCA GmbH

Wolfgang Wegmayer Co-CEO

tel. +43 676 506 21 29

e-mail: ww@payuca.com

Press inquiries:

epmedia Werbeagentur GmbH Celine Whyte

tel. +43 699 17 19 3118

e-mail: celine.whyte@epmedia.at

Source: APA-OTS