ParkedAuto

Michael O'Dwyer, from Innisfail, Alberta, and Socrates Alvarez, from Calgary, Alberta, pitched ParkedAuto, asking for $800,000 for 10% of their company. The app allows customers to book, track, and pay for vehicle pick-up and drop-off for oil changes and other services at partner shops, with the company charging shops a 5% licensing fee per transaction. The founders had invested about $225,000, sourced from Michael O'Dwyer's car dealership, and launched three weeks before the pitch, signing up 53 app registrations in two and a half weeks in Red Deer. Their plan for the $800,000 was to open 20 physical oil-change locations in the first year, building toward 100 locations across Canada in five years, with the app as an add-on to those locations.

Robert Herjavec and Manjit Minhas each said the plan lacked focus and proof of concept, both declining to invest. Wes Hall said the plan was too convoluted and created a conflict of interest with dealership customers. Vincenzo Guzzo cited increased competition from combining brick-and-mortar shops with dealerships and the app. Arlene Dickinson said the founders had not solved the core problem of dealers losing customers to competing garages. All five Dragons declined, and there was no deal.

ParkedAuto appears to have closed. Its products may no longer be available.