Fetch is a service that uses either an office building’s existing parking space or a nearby pay-parking area to manage vehicles of its corporate clients’ employees
Last November, navigation app Waze named the Philippines the worst place to be a driver in the world, receiving the lowest score in the 2017 Waze Driver Satisfaction Index. The report attributed this score to traffic severity, high gas prices and overall dissatisfaction of Filipino drivers.
While traffic is an understandably large factor for the low ranking, one other issue plaguing drivers, especially those in Metro Manila’s major business districts, is parking. From limited slots to steep prices, employees who drive to work every day endure the additional challenge of finding suitable parking, sometimes more than once throughout the day.
“We’re talking about 55 minutes, on average, every day that an employee that parks in pay parking spends just to manage their parking,” revealed Steven Martin Luchangco, the founder and CEO of parking startup Fetch. The company aims to solve that pain point through its on-demand valet service catered to a company’s employees.
“What we want to do is put a valet parking service exclusive for your employees right in your office building,” he said in Takeoff Batch 2, a startup pitching event held by the Information Technology and Business Process Association of the Philippines (IBPAP) last June 6. “It’s the most convenient solution because they don’t even have to cross the road from the parking lot to their office.”
Fetch will use either an office building’s existing parking space or a nearby pay-parking area to manage vehicles of its corporate clients’ employees. As Fetch is a valet service, it is able to maximize parking areas with limited slots through double parking, driveway parking and other means. That way, office buildings with exclusive but underutilized parking lots will be able to serve more of their employees by letting Fetch manage their parking.
In his pitch at Takeoff, Luchangco presented a case study involving the head office of Bank of the Philippine Islands (BPI) at the corner of Ayala Avenue and Paseo de Roxas in Makati. Before, the building’s 56-slot parking area was only available to top-level executives and banking customers, leaving other driving employees to find parking around Makati.
Steven Martin Luchangco, the founder and CEO of parking startup Fetch says employees spend an average of about 55 minutes every day managing their parking
“They would only be 63 percent utilized,” revealed Luchangco about the BPI head office’s parking slots. “But they wouldn’t let anybody else park for fear that, if they let more employees park, the executives will lose out on their parking.”
After Fetch took over, the parking area is now available to all employees in the head office, as Luchangco and his team were able to increase the utilization of the parking slots to 136 percent. He also revealed that the rates Fetch offers are cheaper than nearby pay-parking areas.
“So it’s the convenience, but it’s also a cost-saving for them as well,” added Luchangco.
Aside from BPI, Fetch has also partnered with hospitality education institution Enderun Colleges and accommodations provider Z Hostel, according to its website. The startup also offers its valet services to large events and gatherings such as weddings, parties and conferences.
Established in 2016, Fetch used to be a valet parking app that consumers can use to easily park in Bonifacio Global City and Makati. Users would have a Fetch driver pick up their vehicle in select areas around the two business districts who will park their cars for them.
In a Facebook post on April 30, Fetch revealed that it transformed into a B2B startup as it “also need[ed] to pivot to a sustainable business model,” adding that it discontinued its retail parking business on May 1.
Lorenzo Kyle Subido is a staff writer of Entrepreneur PH