An online marketplace for self-storage secured a six-figure investment.
Explorage, based in North Wales, has also garnered funds from a syndicate of angel backers led by Camau Nesaf’s Huw Bishop, the Wales Angel Co-Fund, and Menai Science Park (M-SParc) on Anglesey.
They are initially targeting partnerships in the north east of England before taking a regional rollout approach, according to founder Anna Roberts.
“We are currently forging links with independent storage operators in Tyne and Wear,” she said.
“Our partnerships manager is spending much of his time in the region to help understand the local market and customer base – we are excited to see what comes of that.”
Anna drove the raise forward after initial prototyping for the platform was halted during the Covid-19 pandemic.
She could see the benefits of an easily accessible, integrated online service were clear.
The business was part of the first cohort to graduate from M-SParc’s Level-Up Accelerator programme, from which they also secured non-equity funding.
Worth an estimated £48 billion, the global storage market is big business. There are approximately 27,000 new storage bookings each month in the UK, yet finding, comparing and reserving the right solution is inconsistent and long-winded.
Anna said: “It sounds simple, and it is. Explorage will offer a frictionless online facility for customers to find, compare and instantly reserve self-storage.
“Our revenue model means Explorage is risk free for storage operators; they can gain greater customer exposure and receive secured reservations 24/7, whilst diversifying the source of their bookings, expand with more confidence, and fill up new and vacant space quicker.”
Anna’s inspiration for Explorage is driven by a desire to help people and a focus on doing the right thing for customers.
Several hires have already been made as the company prepares for regional rollouts throughout the UK, before scaling up internationally to take advantage of opportunities with overseas partners.
“There’s an obvious gap in the market and I’m determined Explorage will be the solution that both storage users and providers come to love,” said Anna.
“We have a rapidly growing list of storage operators waiting to sign up to the platform, however learning from other marketplace successes, we are taking a concentrated approach to regional rollouts and product improvement.
“We are keen to talk to storage operators interested in listing on the site and look forward to building long term relationships with them and the industry as a whole.”
