35. LOVESPACE

The affordable by-the-box storage service, from the founder of Streetcar

Founders: Brett Akker and Steve Folwell
Founded:
June 2011 (launched August 2012)
Website: www.lovespace.co.uk

Describing itself as “cloud storage for your physical things” – decluttering your home instead of your hard drive – LOVESPACE is a by-the-box storage service that will collect and deliver anywhere in the UK.

Founder of Streetcar, Brett Akker, wanted to apply the convenience, value and customer service of his previous business to disrupt the UK storage industry in the same way. The company’s goal is to make storage accessible for everyone, with prices ranging from 78p per box for 12 months, to a maximum £9.95 for one box for one month – collection is free, but there is a small delivery charge to cover logistics.

Back in May last year, the 2014-listed Startups 100 company closed its funding round on Crowdcube having exceeded its target by 167%, with a total £1.55m raised. This fuelled its nationwide expansion, including the lease of a 20,000 square foot warehouse, equipment and fleet. The company has raised £4m to date, serving more than 7,000 customers and storing over 30,000 boxes.

The last year has seen several imitators try and break into the market, but LOVESPACE believes its competitive pricing, brand awareness and association with Mothercare and Oxfam will help it stay ahead of the curve. The storage firm will use the next year to explore the possibility of helping its customers share, gift, recycle and sell their items.

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