Event: 2018 Phocuswright Europe
Product: Stasher
Category: Startup Company
HQ: London, U.K.
Principal(s): Anthony Collias, Jacob Wedderburn-Day, Matt Majewski
Funding: £950K across two rounds
Product Description: Stasher is a marketplace functioning via a website and soon apps. Users can browse nearby vetted businesses and can book to store luggage with them (fully insured by us). The local host will check ID, apply a security seal and store the bag securely. Our hosts generate a commission and generate footfall to their business - where nearly 50% of users purchase additional goods and services.
Business Model: Stasher is an online marketplace connecting travellers with local shops and hotels who can store their luggage. We take a commission on all bookings placed through the platform.
Competitors: Our key competitors are station facilities, and several smaller services with similar models have launched in different geographies.
Competitive Edge: Stasher is the first business to introduce a platform business model to the growing issue of luggage storage and soon luggage delivery. This makes our solution asset-light and scalable.
Market Opportunity: The growing vacation rental sector has driven a need for our core service: luggage storage. Airbnb alone has 20K+ rentals a week in London and our vacation rental partners inform us that between a third and a half of their guests ask about luggage storage. We are considering international luggage delivery at a later date. Airlines generate in excess of £10B via checked baggage fees - typically their largest source of ancillary revenue. Our network of hosts could facilitate a delivery service that could bypass and undercut these check-ins.
Early Customers: Our early adopters are Airbnb guests and city breakers. We're running trialling partnerships with several major hotel chains and operating with major vacation rental businesses such as Airsorted.
