Vallie, an on-demand valet parking service, will be available in the City of London from today.

Customers will be able to drop off their cars at any destination of choice within the City of London service zone, then hand over their keys to a pre-checked Vallie driver. The Vallie app will update customers on their car’s location throughout the parking experience and cars will be returned to any chosen destination within 20 minutes.

Vallie will use a simple payment structure of either £8 per hour or £25 per day. The daily charge represents an average 20% savings based on the daily rates of NCP car parks in the same area, according to the company.

Vallie co-founder and CEO Nash Islam said, “Vallie will make driving in London a pleasure. We provide a secure and convenient solution to parking problems, starting with our pilot scheme in the City, which will roll out to more areas of London shortly. We also want to provide value, so our hourly and daily rates are not only competitive, but can save drivers money.”

All Vallie drivers have been hired following stringent interviews, a driving test and background checks. They will be audited regularly to ensure high levels of customer service and safe driving.

Vallie drivers will be insured for up to £100,000 damage on the car and up to £10 million third-party liability while driving. All cars will be parked in commercial car parks with CCTV and secure barriers.

Vallie was founded by Nash Islam, a serial entrepreneur and angel investor, previously head of mobile operations at Google, together with Oxford graduate Robin Doble, formerly a trader at Barclays and founder of app-based car-washing service GoWashMyCar. The pair came up with the idea because they found parking in London so difficult.

Similar services have been successful in the US and China. US leaders Luxe and Zirx have raised more than $25m each and Zirx has received investment from BMW iVentures, BMW’s venture capital arm. Chinese leader Tingchebao secured a $2.6m series A round of funding earlier this year and operates in several cities across China.

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