Dubbed the “AirBnB of parking”, the app, developed by Kerb, has recently been rolled out in the Malaysian capital of Kuala Lumpur, winning an award for tech companies involved in providing solutions to ease urban congestion in the city.

Founded in 2016 by local entrepreneurs Rob Brown and Matt Salmon, the app is being offered in 25 countries, with another 18 countries in the company’s sights.

The app, one of many now on the market, has been supported by both Austrade and Trade and Investment Queensland as it has grown, with Kuala Lumpur being added to its list of countries after taking part in an Austrade mission in 2019.

The company chose Kuala Lumpur because while the city has an estimated one million vehicles, it only has about half that number of traditional car parking spaces.

It says the app helps unlock the estimated 690,000 extra car parking spaces in Kuala Lumpur, many of them privately-owned but empty for at least part of the day.

Kerb’s south-east Asia regional director David Albaiceta said the app allowed residents to earn income from their assets.

“Every single vehicle driving the streets of Kuala Lumpur during the rush hours has freed up a parking space in another part of the city. Hundreds of thousands of parking spaces sit empty for much of the week – behind condos, beneath hotels, attached to sports venues and places of worship, and in schools and universities,” he said.

“We see particular demand for parking in the business districts, around hospitals and transport hubs.”