CityStasher, a sharing economy platform for left luggage, has scored $1.1m in a Seed round led by Venture Friends.
HOWZAT Partners, Charlotte Street Capital and angel investors including Big Yellow Storage CEO James Gibson also participated.
Jacob Wedderburn-Day, CEO of CityStasher, said he was delighted to have attracted “such an illustrious team of backers” to support his startup’s next phase of growth.
“Venture Friends, HOWZAT Partners, Charlotte Street Capital and our angels, including our pre-Seed funder James Gibson, bring with them a wealth of expertise from across the leisure, hotel and storage spheres which will prove hugely valuable as we look to further our European expansion.”
George Dimoupolous, partner and co-founder at VentureFriends, will join CityStasher’s board.
Launched in 2016, the startup provides a network of local shops, hotels and other venues where travelers are able to leave their bags securely.
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The firm, which increased the number of StashPoints in their network to 200 last year, has locations in the UK, Amsterdam, Berlin and Paris.
CityStasher will use the funds to expand across Europe, as it looks to reach territories including France, Germany, Italy and Spain before the end of the year.
Wedderburn-Day added: “We want to provide a safe, convenient and affordable option for every single laden-down traveller. We’ve already safely stashed 50,000 bags and we predict that 2018 will see this number increase dramatically as we rapidly expand our European presence and start to map out our global ambitions.
“We’re also excited to be expanding our network of venues, helping many more businesses get involved with the sharing economy. For several years now, bricks and mortar venues have been hurt by digital disruptors. The CityStasher model brings convenience and value to customers whilst also empowering retailers and helping them diversify their revenue.”
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David Soskin from HOWZAT Partners, commented on the startup’s potential, noting how it looked to solve one of the most pressing problems for holidaymakers.
“Where to store luggage while on the move is a persistent problem faced by travellers across the globe. CityStasher provides a very simple and scalable solution. HOWZAT is excited to support the team in their efforts as they expand across Europe.”
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