Stashbee, UK-based marketplace for space and storage, has successfully surpassed £2 million in funding through its latest equity crowdfunding efforts on Seedrs. The funding round was launched earlier this month and quickly raised its initial £1.6 million funding target. The company is currently offering 15.0% equity at a pre-money valuation of £9 million.
As previously reported, Stashbee a 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. In just three years, the company has had more than 10,000 hosts and guests register to use the platform, with its Host Network growing by a 1,130% in the last twelve months and a 680% growth in monthly recurring payments for the business.
“The reasons behind this exponential growth can be attributed to how the rise of the sharing economy, as seen in so many other industries such as transport and holiday bookings, has disrupted the conventional storage industry. This new model for distributing goods and services has resulted in an increase of people aware and willing to supplement their income through these types of schemes.”
Funds from the latest Seedrs round will be used to continue growth and development of the Stashbee platform, as well as expand the platform’s team and product development. The campaign is currently set to close later this summer.
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