Stashbee, the fast-growing marketplace for space and storage, today announces that it has raised nearly £1 million in funding, thanks to its highly successful equity crowdfunding campaign on Seedrs.
Stashbee set their funding target on Seedrs at £500,000, however due to overwhelming demand, the company achieved this in just 3 days. Overall, the campaign has raised £897,470 from more than 740 investors across 32 countries.
The funds raised will be used to accelerate Stashbee’s expansion plans. This will be primarily done through hyperlocal marketing activities in the UK and other key markets, new team members to support the rapidly growing customer base, and further product development to reduce manual intervention and improve user experience.
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. 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. One customer currently earns £6,000 per year renting out his garage, spare room and basement to 11 different users.
Stashbee Co-Founders David Mantle and Anthony Paine said: “With the traditional UK self-storage industry worth £750 million a year alone, we are confident Stashbee can tap into a huge potential market and offer a hassle-free storage experience. We are delighted by the overwhelming response we’ve received to our first crowdfunding campaign. For us, crowdfunding is a useful tool to build a community of not only financial supporters, but advocates and potential customers, and we look forward to taking them all on this journey with us.”