Stashbee, the fast-growing marketplace for space and storage, today announces its equity crowdfunding campaign on Seedrs to help fuel its rapid expansion.
Stashbee is the tech startup behind the community marketplace that enables both individuals and companies to access secure, hassle-free storage space or an easy way to make cash from their idle space. One user currently earns £6,000 per year renting out his garage, spare room and basement to 11 different users. Stashbee 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. Stashbee has already helped hundreds of customers find local and affordable spare space and boasts an impressive 35% month-on-month growth rate amongst its Host Network.
Stashbee estimates that in the UK alone, there is a £2.9 billion addressable demand for storage and spare space, with the traditional self-storage industry alone worth £540m a year. However, the UK is a vastly untapped resource; the company believes thereis around 1.5 billion square feet of addressable spare space, with 31% of households under occupied, and 30% of spare capacity in industrial space. Unfortunately, the outdated spare space industry has not kept up with demand and market potential; existing official self-storage spaces are costly, with little flexibility and clarity in pricing, and other informal peer-to-peer space rental services lack security.
However, as with other industries, the rise of the sharing economy in recent years is set to disrupt the conventional storage industry. The sharing economy is a lot to do with trust and personal rapport, forcing people to overcome our traditional fears of distrust, which is key when entrusting your personal belongings, or stock, to strangers. Coupled with their guarantees of transparent bookings with two-way ID checks and Hiscox-underwritten insurance, Stashbee is testing the boundaries of the tech-fuelled peer-to-peer landscape.
One of the areas Stashbee is expanding is its peer-to-peer capabilities is on the commercial side. Primarily aimed at small businesses, Stashbee has been helping warehouse-based companies free up and utilise their spare space, renting it out to peers who need to store stock for their own business purposes. For example, Stashbee helped superfood chocolate manufacturer Doisy & Dam to rent their space out to Oddbox, a food startup delivering fruit and veg boxes, and Vintique, a retro/vintage furniture company based in Bermondsey. This has not only created a new opportunity for Doisy & Dam to generate an additional revenue stream, but it has also fostered a collaborative relationship between the companies, connecting like-minded startups and supporting the wider small business ecosystem.
Ed Smith, Co-Founder of Doisy & Dam, commented: “When Doisy & Dam was starting up, we had spare capacity in our warehouse in Brockley. Our ambition was to grow the business and expand into the spare space, but at the time the space was just idle and costing the business money. Stashbee helped us fill the space with two fellow startups who needed to store stock for their business. We were able to fill the space quickly and developed strong relationships with both companies. Stashbee did a great job at helping us make money out of our spare space.”
David Mantle, Co-Founder at Stashbee, said: “Space has never been at such a premium, and we live in an era where people have more belongings than ever before. In order to address this need, Stashbee has reinvented the storage industry for the sharing economy generation. We are excited to welcome both existing and prospective storage hunters on our journey as we take Stashbee into its next phase of development.”