HotViews Archive

Skip Navigation Links.
Collapse 2018 (42)2018 (42)
Collapse January (42)January (42)
BeMyEye spies growth with Task360
16 Jan 2018
TCS on a roll in life & pensions
16 Jan 2018
AI bests humans at reading comprehension
16 Jan 2018
Instem makes positive start to 2018
16 Jan 2018
Capita loses the Pru
16 Jan 2018
Communisis stays on track
16 Jan 2018
Trading update shows WANdisco is on form
16 Jan 2018
Anon AI secures £340k seed funding
16 Jan 2018
Hambro Perks joins The Dots with £4m funding round
16 Jan 2018
Sage has clear opportunity as Open Banking arrives
16 Jan 2018
Resurgent NCC Group grows H1 revenue 4%
16 Jan 2018
Divorce, technology style with Amicable!
16 Jan 2018
Government shared services: lacking courage or realistic?
15 Jan 2018
Tax Systems signal steady progress
15 Jan 2018
ATTRAQT CEO steps down
15 Jan 2018
Carillion's demise is ultimately bad for all Public-sector outsourcers
15 Jan 2018
Previse gets funding to go north of the border
15 Jan 2018
**NEW RESEARCH** Open Banking - It's Alive!
15 Jan 2018
Pentech pays attention to Digital Fineprint
15 Jan 2018
ARE YOU READY TO BECOME THE NEXT GREAT BRITISH SCALEUP?
15 Jan 2018
Plum Guide gets £5.7m to find you posh home lets
14 Jan 2018
Transamerica banks on TCS’ BaNCS
14 Jan 2018
Infosys holds steady as Parekh takes helm
14 Jan 2018
Disappointing end of year for SDL
12 Jan 2018
Leveling the playing field
12 Jan 2018
Azzure IT receives £2m in funding
12 Jan 2018
** NEW RESEARCH ** Cyber Security Supplier Prospects 2018
12 Jan 2018
Sparse month for UK tech M&A
12 Jan 2018
Stately progress for TCS
11 Jan 2018
Accenture extends reality with Mackevision
11 Jan 2018
Vermeg swoops in for Lombard Risk Management
11 Jan 2018
BT adds IBM to Cloud Connect Direct ecosystem
11 Jan 2018
Deloitte creates legal ructions with technology
11 Jan 2018
NOMINATIONS OPEN – GREAT BRITISH SCALEUP EVENT MARCH 2018
11 Jan 2018
BT Pension Scheme says goodbye to Accenture
10 Jan 2018
CityStasher bags $1.1m to stash your baggage
10 Jan 2018
Concentrix reaches the $2 billion mark
10 Jan 2018
Amiko uses AI to help asthma sufferers
10 Jan 2018
Ideagen expands use of Q-Pulse in NHS
10 Jan 2018
Collaboration at heart of Salesforce's Attic Labs acq
10 Jan 2018
PwC puts worker bees on drones
10 Jan 2018
**NEW RESEARCH** Financial Services Supplier Prospects 2018
10 Jan 2018

UKHotViews©

 

Wednesday 10 January 2018

CityStasher bags $1.1m to stash your baggage

logoWhen I read about London-based startup CityStasher I thought ‘what a great idea – I wonder why nobody has thought of it before’. But a couple of Google searches later I realised that they had!

Very simply, CityStasher (and its ilk) let you store baggage in hundreds of convenient locations such as shops and high street businesses in major capital cities at much cheaper rates than left-luggage lockers in stations and airports. The market they are really targeting are Airbnb’ers who arrive before check-in time or need to stow baggage after checkout.

Like the others, CityStasher uses secure tags to ensure luggage isn’t tampered with and offer a level of insurance cover, though this is rather low, at £750. CityStasher charges £6 per bag for up to 24 hours and £5 for extra bags. Bookings and payments are made online. Founded in 2015, CityStasher has just raised $1.1 million in seed funding in a round led by Venture Friends, with participation from Howzat Partners, Charlotte Street Capital, and angel investors including prior backer, Big Yellow Storage CEO James Gibson.

In contrast, Danish startup LuggageHero also operates internationally and charges €1 per hour plus a €2 handling fee per bag in London, including €1,700 insurance cover. Then there’s Vertoe in New York City, and Rome-based BAGBNB (neat name) in Europe …

The challenge, as ever, is how CityStasher et al can make serious money given the very low transaction fees – most of which I assume goes to the drop-off point owner – and the additional costs to provide secure luggage tags to its drop-off partners and premiums to their insurance partners. Sounds like an emerging market already ripe for consolidation and/or the launch of a Trivago-like platform to search for the best deal from baggage stowage startups.

Posted by Anthony Miller at '11:32' - Tagged: funding   startup  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link




© TechMarketView LLP 2007-2018: Unauthorised reproduction prohibited see full Terms and Conditions.