Stashbee, the online sharing-economy platform for storage space, today announces that it has over 820,000 sq ft of leasable space on its platform and is on track to be the largest UK storage provider in 2020. 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.
Stashbee is the UK’s largest marketplace that helps individuals and businesses access secure, hassle-free storage space, whilst offering an easy way to make cash from idle space. The Company also enables businesses with spare space to rent it out via their platform, with a growing network of warehouses and commercial spaces listed on the platform. In just 3 years, Stashbee has had over 10,000 hosts and guests register to use the platform, with its Host Network growing by a whopping 1,130% in the last twelve months and a 680% growth in monthly recurring payments for the business.
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.
The Company also today announces a £1.6m funding round on leading European investment platform Seedrs. 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.
Tim Slesinger, CEO of easyStorage and Stashbee investor, commented: “The potential for Stashbee on a global scale is huge – it will definitely work in the UK and there’s no reason why it won’t work in other countries”.
Stashbee Co-Founder David Mantle, said: “Looking back from where we started to now being one of the largest players in the UK storage market is just astounding. It is a stark demonstration of how much the industry needed reinventing for the sharing economy generation, and how much of a premium space is in the UK. We have been overwhelmed by the phenomenal interest in Stashbee since our last funding round 12 months ago, and we are delighted to welcome back our loyal customers and investors to be a part of this next stage of fundamental growth.”