Published on : Wednesday, January 10, 2018
It is a special network of brick and mortar businesses across Europe that would be storing luggage for a few hours after visitors have checked out or are waiting to check into their travel accommodation.
In order to accomplish this mission, CityStasher has been able to raise $1.1 million in seed funding in an effort headed by Venture Friends.
Howzat Partners, Charlotte Street Capital and a number of angel investors have also been participating in this venture. And one of those is Big Yellow Storage CEO James Gibson who was an earlier backup of the startup.
The problem that these young brand is eager to solve is that having to carry around luggage might often check the thrill of the tourists, stopping them from enjoying their travels.
Therefore it saves them time that would have otherwise been wasted on arranging their luggage.
For the businesses that are listed on the marketplace of CityStasher, known as ‘StashPoints the upside is the fact that they are being capable of monetizing an otherwise empty space and also get more people through the door.
One of the partners of CityStasher Colias feels that brick and mortar businesses desperately require new revenue streams.
And so it has inspired them to build a network of business that would help people store their bags safely and brining these two groups together. And also it ushers in revenue and footfall to the shops while offering a significant service to travellers. Coliar feels that their customers would typically be young people in their 20s and 30s who are travelling to Europe and residing in Airbnbs.
He also thinks that the startup has been noticing families leave large buggies while they visit attractions especially in Paris and London StashPoints. This company had actually started off by competing against station facilities.
They have already claimed 200 StashPoints in locations across Paris, the United Kingdom, Berlin and Amsterdam.
And CityStasher is planning to utilize the new funding to launch in five more nations in 2018 and is already ready to commence hosting trials with some major budget hotel chains.