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Monaco start-up secures €3.7 million in funding

Monaco start-up secures €3.7 million in funding

By Stephanie Horsman - November 2, 2021

Monaco start-up YouStock has reached a major milestone with three major new investors, giving them the capital to expand not only in France, but also internationally.

Founded in 2015, YouStock, the Monaco company that packs, moves and stores household goods and furniture at a reasonable price, has had a meteoric rise. Just two years into operations, the start-up attracted the attention of business incubator MonacoTech, and now they have secured funds from three new investors which will allow them to grow ever faster.

Amavi Capital, a fund specialising in European PropTech, the la Région Sud Investissement and business angel Jean-Luc Haddad, founder and president of Grospiron International, have joined forces with YouStock, investing €3.7 million in the company.

This injection of capital will allow YouStock, which has operations in Nice and Paris as well as the Principality, to continue their national expansion plans to Lyon by the end of 2022, with another to-be-determined European capital set to be established in early 2023.

“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,” said Frederic Van den Weghe, Managing Partner at Amavi Capital. “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 revolutionises 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.”

YouStock Co-Founders Alexis Bouresche and Pierre Charvet found a hole in the self-storage market and went about plugging it. The logistics and costs of storing furniture and household items were often prohibitive for people, and the idea stemmed from these constraints.

You Stock’s guiding principles offer solutions by giving customers reasonable pricing, up to 40% less than other self-storage facilities, and customised service that allows clients to directly manage the organisation of their storage online with a QR coded inventory system. This feature means that select items can be delivered back to customer’s homes within a 48-hour time period at the click of a button.  

The company has seen phenomenal growth, boasting a clientele of 1,200, a 90% rise since 2020, and they even managed to thrive during lockdown.

YouStock has also chosen its locations wisely, with the Paris opening being a massive success due to rising rent prices forcing people into smaller flats. This has led to the need for cost-effective solutions for off-site safeguarding of personal belongings.

“Our success in Paris, Monaco and Nice confirms the relevance of a service like YouStock in big cities,” said CEO Alexis Bouresche. “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.”

YouStock’s goal is now to go beyond France’s borders and cover the whole of Europe.

 

 

 

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