Lockall, a Paris-based startup focusing on innovative storage solutions for both individuals and businesses, has successfully raised €155 million. The financial boost comes from a subsidiary of Starwood Capital Group, a prominent American investment firm. This marks a significant milestone for Lockall, which has been endeavoring to capture the growing demand for flexible storage options in the Paris region. The company aims to further solidify its presence in the market with these funds, reflecting the confidence placed in it by investors. The support from Starwood Capital emphasizes the potential seen in the European self-storage market.
What Are Lockall’s Plans with the New Capital?
Lockall, founded in 2020, currently operates five self-storage facilities and is poised to expand in the Ile-de-France region. The company plans to open four additional locations and is preparing to announce two more sites by year’s end. The expansion plan targets a total portfolio of fifteen sites by 2026. This growth strategy is seen as a vital move to meet the increasing demand for both personal and business storage solutions in the area.
Alexis de l’Épine, co-founder of Lockall, commented on the funding as an “accelerator” that validates their storage solutions.
“This new financial contribution demonstrates the relevance of our storage solutions and opens up new prospects for us to set up in the Ile-de-France region.”
How Does Lockall Operate?
Lockall specializes in offering flexible, commitment-free storage solutions with facilities located in key areas such as the 8th and 13th arrondissements of Paris and Suresnes in Hauts-de-Seine. The company provides storage options that range from 0.5 to 150 m², designed for easy access and enhanced security through encrypted digital key technology. Apart from standard storage, Lockall has introduced “Maisons des Artisans,” a B2B setup tailored for artisans and entrepreneurs, featuring storage, workshops, and office spaces.
Recent reports highlight how Lockall’s approach to catering specifically to artisans and small businesses with their “Maisons des Artisans” has been a strategic move. The company utilizes renovated former brownfield sites to offer these services, which are operational in areas like Lognes and Poissy, with plans to expand to Argenteuil and Vélizy-Villacoublay.
Lockall’s initiative also aims to leverage strategic partnerships to ensure they meet customer needs effectively. Antoine Muel, Director of Development at Lockall, emphasized the importance of location selection, stating that the company works closely with communities to target areas with the highest demand.
“Thanks to our work with communities, we are able to offer locations where demand from individuals and professionals is strongest.”
Given the increased focus on flexible workspace and storage solutions, Lockall’s expansion appears to align well with market trends. The funding from Starwood Capital Group represents a vote of confidence in Lockall’s business model and its potential to capture a substantial share in the European market. As urban spaces increasingly need adaptable business solutions, Lockall’s approach could serve as a model for similar startups.
