Stashbee

Idea

Introduction

In 2018, we crowdfunded on Seedrs, beating our target in a matter of days. Since then, we’ve put those funds to work and have been busy growing Stashbee and developing our world-class website. We have now onboarded over 820,000 square feet of leasable space onto Stashbee. In terms of square footage, that makes us the 8th largest storage provider in the UK.

In many areas, space has never been at such a premium, and we live in an era where people have more belongings than ever before. Stashbee is on a mission to make finding and booking storage space easy, convenient and affordable for everyone, everywhere.

That’s why we’re building the UK’s leading platform for storage space.

Our easy-to-use platform connects individuals and businesses who have spare space (garages & lock-ups, spare rooms, parking spaces, warehouses and self-storage facilities) with those who need it for storage, long-term parking and warehousing. It’s one place for all your storage needs!

Intended impact

Our vision is to become the number 1 global destination for storage. We’re building the one-stop-shop for people to easily find and book any kind of storage space; whatever their need, and wherever they are.

People and businesses are increasingly looking beyond their homes and offices for storage space. But finding it is not easy. There are a limited range of local options available, prices are often opaque and it can be tricky to compare alternatives.

Meanwhile, we estimate that there are 1.5 billion square feet of under-utilised space in warehouses, spare rooms & garages right across the UK which is sitting idle and untapped; with no simple and secure solution to monetise it.

Stashbee harnesses the power of the sharing economy to provide a hassle-free way for individuals and businesses to earn money from their idle space, whilst offering existing storage businesses a simple way to advertise and manage their available space.

Substantial accomplishments to date

✅ Stashbee now has 820,000+ square feet of leasable spare space on its platform (that’s equivalent to 28 traditional self storage facilities)

✅ In the 12 months to March ‘19, our Host network has grown by over 1130%. We're currently growing at a rate equivalent to 2 self-storage facilities p/month, and on our current trajectory, we’re aiming to be the number one provider in the country by the end of next year

✅ Our monthly recurring payments increased by over 680% in the last 12 months

✅ We’ve hosted over 130,000 storage days to date (that’s 350 years of Stashbee!)

✅ Over 10,000 users registered

✅ We’re rated 5 stars on Trustpilot by our delighted Guests and Hosts

✅ We’ve built a brilliant automated online marketplace platform. Functionality includes listing creation, browse and book, messaging between users, automatic payment & invoicing, flexible cancellation and date changing, auto ID checks, move-in & move-out support and much more

✅ Recently, we launched ‘Stashbee Unit Sizing’, a suite of features that makes it incredibly easy for large commercial and self-storage Hosts with multiple units and locations to list and generate income

✅ We’ve been featured by the BBC, The Times, The Telegraph, Mail Online, Evening Standard, Metro, Esquire, and many more

Monetisation strategy

We collect monthly payments from Guests who rent a space through Stashbee, and then pay out earnings to our Hosts.

Our simple revenue model involves charging a Service Fee of 20% on each monthly transaction.

We also provide additional services such as transport, with others such as packaging and top-up insurance in the pipeline.

Use of proceeds

Fuel Further Growth.
In 12 months we grew the business by almost 7x (and over 11x in terms of square footage on the platform). Marketing spend over the next period will focus on achieving London-wide coverage, and following on from our successful city trials, launching in other major cities across the UK and developing a nationwide presence.

Team.
We will expand the team at StashbeeHQ in Shoreditch, London to allow us to keep pace with the growth of the business whilst continuing to deliver fantastic service to our Guests and Hosts. We will be hiring into key roles across Customer Service, Marketing, Technology and Finance.

Product Development.
Our product now helps Guest and Hosts across the nation to connect and store with each other. Our relentless focus on customer experience and technology and process improvement has enabled us to build what is - as far as we know - the very best technology product in sharing economy storage. We will continue to invest in this area to stay ahead.