Luggage storage startup sets sights on global expansion following $2.5m investment

A startup specialising in economy luggage storage solutions has secured $2.5m in a new funding round to boost its international expansion.

Stasher has raised the multi-million dollar funding in a round led by VentureFriends, with participation from a range of angel investors including former Hotels.com president Johan Svanstrom.

Launched in 2015, the platform works as an online marketplace, aiming to connect travellers, event-attendees and holiday rental guests with local shops and hotels who can store their luggage on a short-to-medium term basis.

Anthony Collias, Stasher CCO and co-founder, explained: “We’re bridging the gap between VR and hotels.

“In fact, our model is so scalable that we could launch in any urban area that you could reasonably stay in an Airbnb. This means there’s an opportunity to launch more than 10,000 new cities in the near future.”

The news comes after the luggage storage startup scaled its operations worldwide - including expanding to the US and Australia - and tripled its year-on-year revenues in the past 12 months.

This latest round of funding will be used to strengthen its position in key global markets and enhancing its existing proposition.

Apostolos Apostolakis from investor VentureFriends added: “We have been impressed by the demand for the service as well as the ability of the team to expand the offering in so many cities within just two years.

“However, what really impressed us with the team at Stasher was their uncompromising focus on the consumer experience and safety from day one.

“This is what sets them apart and will allow them to remain the leading service provider globally.”