Paris-based startup YouStock which focuses on self-storage market solutions just closed a funding round aimed at accelerating the company’s goals. According to the company’s publication, which states that YouStock has closed a €3.7 million led by AMAVI Capital, a fund specialist in European PropTech, Région Sub Investissement, BPI, and the Business Angel Jean-Luc Haddad, who’s also founder and CEO of Grospiron International.
Funny enough, the subject startup was actually founded in Monaco in 2015, spearhead by ‘Alexis Bouresche’ (CEO) and ‘Pierre Charvet’ (COO) who are poised to meet the need to optimize space. However, it’s been observed over the years that their flexible and affordable solution has made the storage of personal items more democratic.
The subject startup is, however, believed to be born out of the simple observation that the self-storage market is faced with multiple issues, notably inadequate pricing and logistics constraints. Having figured out these concerns, the company, however, aims to shape these issues with an on-demand solution based on two key principles:
- Simple, customised organisation of storage: Thanks to an online solution, the subject startup is structured to allow customers to directly manage the organisation of storage from start to finish: owing to the fact that the company’s team picks up the items from your home, and you can as well manage your personal items directly yourself. Hence, its solution allows you to have the desired items delivered back to your home within 48 hours thanks to an online inventory that uses QR codes.
- Reasonable and fair prices: Structured with an algorithm that calculates the volume of storage needed, hence, offering a surface area that meets its customers’ needs in addition to favourable rates that are up to 40% cheaper than traditional self-storage.
Moreover, it’s understood that the success of its launch in Paris notably during the COVID-19 lockdown did confirm the relevance of the company’s strategy. More significantly, noting that the inflation of the price per square meter in cities has considerably reduced habitable floor area, obliging a good number of people to find new solutions for storing their personal belongings.
Startup YouStock’s latest capital is believed to have come at a crucial time for the company’s development, irrespective of last year’s challenges, yet, it achieved significant growth and currently commands more than 1,200 active customers, representing a 90 percent increase compared to the year 2020.
Meanwhile, YouStock wants to use its latest fundraise to accelerate its development, notably with the integration of automation processes for delivery and storage. Further on this, the company equally plans to grow its business across the country from early 2022, and expand to European capitals in 2023. As the founders aim to become the European leader in urban self-storage within the period of four years. However, the CEO of YouStock ‘Alexis Bouresche’ made clear in a statement that:
“Our success in Paris, Monaco, and Nice confirm the relevance of a service like YouStock in big cities. By offering city dwellers the fairest, simplest, and most affordable model, we aspire to quickly become a key player. This raising of capital offers a real opportunity for us to gain a foothold throughout France over the next few months”.
Equally, the Managing Partner of AMAVI Capital ‘Frederic Van den Weghe’ commented: “Ever since its launch, we’ve been impressed by the digital platform developed by the YouStock team, as well as the growth they’ve generated. Supporting YouStock in their ambitions to grow in France and in Europe is perfectly in line with the PropTech focus of our investment strategy. YouStock revolutionizes the way you can manage your belongings on-demand, short or longer-term, and at a very competitive rate. All on an intuitive digital platform”.
- What’stake on this development!
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