ParqEx is expanding services to Milwaukee and Madison

A new parking app developed by the Chicago-based startup ParqEx will launch in Milwaukee and Madison this spring.

The ParqEx app, which recently launched in Chicago, allows people and businesses with private parking spaces to rent them out to app users looking for a place to put their vehicle.

Parking spots can be listed  on the app for hourly, daily, weekly or monthly rentals. Spot owners — which could include condo-owners, churches or any other property owner in the city with a private parking space — set the price and availability of their spots.

ParqEx completed Milwaukee-based gener8tor‘s 12-week accelerator program in 2016 and raised $1.27 million in seed funding in December, according to Crunchbase.

Milwaukee and Madison are two of several cities where ParqEx plans to launch the app in the near future, according to a list posted on its website. Others include: Washington, D.C., San Francisco, Los Angeles, Miami and Philadelphia.