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Stasher

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Stasher provides an online platform for luggage storage, connecting travellers with local businesses

133%
 - 
Funded 11 Oct 2023
£425,002 target
£566,442 from 356 investors
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Business overview

Location London, United Kingdom
Social media
Website stasher.com
Sectors Travel, Leisure & Sport Digital B2C
Company number 09787338
Incorporation date 21 Sep 2015
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Investment summary

Type Equity
Valuation (pre-money) £15M
Equity offered 3.64%
Tax relief

EIS

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Business highlights

  • Live in over 600 cities and 75 countries
  • 143% growth in H1 '23 compared to H1 '22
  • Stored over 1m bags
  • Rated 4.9 stars on Trustpilot
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Key features

  • Secondary Market
  • Nominee investment min. £13.38 +
  • Direct investment min. £25,000.00 +

Idea

Introduction

Stasher.com, available as both a website and an app, connects travellers to local hotels and shops that provide luggage storage space. It's an essential tool for those who've checked out of their lodgings but want to keep exploring, or for those with extended layovers. Rated 4.9 stars on Trustpilot, not only does Stasher offer a secure and affordable service to travellers, but it also drives additional revenue for local businesses.

Stasher's mission is clear: to improve your travels. We aim to be in every city with an Airbnb, so you can always have a reliable place to store your luggage and enjoy your trip worry-free. Already active in over 600 cities and 75 countries, Stasher offers convenience and affordability. And with our 100% money-back guarantee, we're committed to excellence, striving not just to expand our reach, but to consistently deliver top-notch service.

Substantial accomplishments to date

• Expansion

Stasher is live in over 600 cities in 75 countries. A lot of this growth came since Covid - we're very proud of the remote sales system we developed to sign up hotels around the world. We work with over 3000 businesses, including famous chains like Premier Inn, Holiday Inn Express, Radisson & Accor.

• Awards & Press

Stasher is consistently rated 4.8 stars or more, across tens of thousands of reviews. Trustpilot rates us 4.9 stars.

We have won numerous awards including Expedia's "Hotel Jumpstart" Accelerator, Pitch at Palace, Travolution's Startup of the Year, Visit England's Tourism Startup of the Year, and Feefo's Platinum & Gold Awards for Excellent Customer Service.

Stasher has been featured in the press on numerous occasions. TechCrunch has covered our previous funding rounds, the BBC, Forbes and the Guardian have done profiles of us, and the Daily Mail & Daily Express have published our travel research.

Jacob & Anthony, Stasher's co-founders, were recognized on Forbes' 30 under 30 in 2020.

• Financials

Stasher has been revenue-generating since day 1, when we stored our first bag.

Covid was a tough period, in which revenues fell to zero, but the team re-built and in the years that followed have gone on to break record revenues.

In 2022 Stasher turned over more than £1.4m in gross revenue. In 2023, we have already surpassed that figure.*

Our growth in H1 2023 was 143% up year over year.*

We have raised over £3.5m across our funding rounds.

*Based on unaudited management accounts

Monetisation strategy

The business model is super simple.

Customers pay Stasher to store bags. They can browse our website and apps, choose where suits their plans best, and pay online.

We do not rent the space they use for storage. We have a partnership agreement with all our "hosts" (the shops and hotels providing storage on Stasher.com) and in exchange we pay them a commission per bag per day stored.

Customer acquisition is achieved by a few main channels - Google ads, organic search and referrals from partner travel services. All channels are profitable net of marketing costs.

Use of proceeds

Stasher is in the best place it's ever been, serving more customers than ever before, which we are very grateful for. We're positioned to grow and to do this we need your help!

The proceeds of this campaign will help us achieve:

-> Multiply supply on platform

-> Store millions more bags

-> Explore launching new service lines

We will do this by:

-> Hiring - across product, sales and marketing.

-> Allocating a larger budget to awareness marketing as well as the channels that work.

Supply deals - to quickly boost our presence around the world.

Key Information

Share Classes

The company currently has 3 classes of shares, Ordinary, A ordinary and Preference Shares. All investors including Seedrs investors will be receiving A ordinary shares while some of the EU investors in this round will be receiving 1x Non-participating Preference shares as they are not EIS eligible.
The rights attached to the share classes are as follows:

A ordinary shares:
Each share has full rights in the company with respect to voting, dividends. Subject to the right of preference shareholders to a priority return of capital, each A ordinary share ranks pari passu inter se and with all other classes of share in relation to a return of assets on a return of capital of the company

Ordinary shares:
Each share has full rights in the company with respect to voting, dividends. Subject to the right of preference shareholders to a priority return of capital, each ordinary share ranks pari passu inter se and with all other classes of share in relation to a return of assets on a return of capital of the company

1x Non Participating Preference shares:
A) Each preference share confers on the holder thereof (in that capacity) the right to receive notice of and to attend, speak and vote at, all general meetings of the company and to vote on written resolutions and on a poll or written resolution to exercise one vote per share
(B) Each preference share ranks pari passu inter se and with all other classes of share in relation to the distribution of profits or income of the company
(C) on a return of capital of the company to shareholders, each preference share confers either a limited priority right to the return of capital or a right to convert into ordinary shares
(D) no preference share has any redemption right attached

Material Debt

The company has the following outstanding loans from their existing Shareholders:

£50,000 loan from James Gibson at an interest rate of 12% per annum. The loan is to be repaid on 31st December 2023. The monthly repayments are £6150.82

£50,000 loan from David Soskin at an interest rate of 12% per annum. The loan is to be repaid on 31st December 2023. The monthly repayments are £6150.82

£25,000 loan from Roger Wedderburn-Day at an interest rate of 12% per annum. The loan is to be repaid on 31st December 2023. The monthly repayments are £3075.41

£25,000 loan from Adsi Intelligent Ideas Ltd at an interest rate of 12% per annum. The loan is to be repaid on 31st December 2023. The monthly repayments are £3075.41

As of 30th August, there is a £72,000 balance remaining in total.

£50,000 Bounce back loan from Metro Bank at an interest rate of 2.5% per annum. The loan is to be repaid on September 2024. The monthly repayments are £695.

The funds raised from this investment round will not be used to repay these loans.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for Stasher has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 30 August 2023 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £15,002,171

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

Find out more

Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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