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Stashbee announces £1.6m funding round on Seedrs

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by Startacus Admin

stashbee
Stashbee, the online sharing-economy platform for storage space, has announced a targeted £1.6m funding round on leading European investment platform Seedrs, with the aim to be the largest UK storage provider in 2020.


At the same time as announcing their targeted funding round, Stashbeeannounces that it has over 820,000 sq ft of leasable space on its platform, holding the equivalent space of 28 traditional storage facilities. Stashbee is now the eighth largest storage provider in the UK, and is growing at the rate of two traditional self-storage facilities per month.

Focusing on the sharing economy model, Stashbee connects individuals and businesses who have spare space (garages & lock-ups, spare rooms, parking spaces, warehouses stashbeeand self-storage facilities) with those who need it for storage, long-term parking and warehousing. 

The reasons behind this exponential growth can be attributed to how the rise of the sharing economy, as seen in so many other industries such as transport and holiday bookings, has disrupted the conventional storage industry. This new model for distributing goods and services has resulted in an increase of people aware and willing to supplement their income through these types of schemes.

More specifically, the traditional storage industry has not kept up with demand and market potential; existing forms of storage can be costly, with little flexibility and clarity in pricing, and other informal options such as classified sites lack security.

Stashbee, however removes the barriers for not only individuals, but also the smaller independent storage companies; making it easier for them to advertise their space and manage bookings.

Proceeds from its second raise on the platform will be used to capitalise and build upon the growth Stashbee has seen in the UK in the last three years. 

Seedrs has funded 810 deals to date and has had over £610 million invested on the platform. All investments made through Seedrs offer voting shares to investors and use professional grade subscription agreements. This ensures that investors get the same level of protection that angel investors and venture capitalists enjoy.

 


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Published on: 17th June 2019

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