Tritech Media acquires 30% in ticketless parking provider KaChing
Tritech Media, the media technology group controlled by the Kirsh family, has acquired a 30% holding in parking technology provider KaChing.
The remainder of shares in KaChing are held by the founders and Servest, a black-owned facilities management company in Africa.
William Kirsh will join the board of KaChing, Tritech Media said in a statement on Wednesday.
KaChing is a cashless, ticketless parking system and smartphone application, designed to make payment for parking easy and convenient for visitors. KaChing developed patented technology that utilises license plate recognition (LPR) software to smooth the parking experience.
KaChing currently operates in Johannesburg at Melrose Arch, Morningside Shopping Centre, Thrupps, Campus Square and the Pavilion Shopping Centre. Ten more facilities will be operational soon across Johannesburg, Durban and Cape Town, it said.
KaChing processes more than 12,000 parking transactions per month and its user base is growing organically at a rate of some 20% per month.
Servest is a supplier of facilities management services to over 7,500 clients on 25,000 sites throughout Africa and the United Kingdom. Employing more than 35,000 management and staff, Servest delivers international best-practice standards on individual services such as security, landscaping, cleaning, hygiene and parking with market-leading services companies in these sectors in the built-environment.
Servest Parking is Africa’s leading parking management company with operations in 8 countries across Africa including Nigeria, Ghana, Côte d’Ivoire, Malawi and Zambia, managing 85,000 parking bays and handling 250,000 cars parking a day.
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