Tech Pitch: bySTORED.
Entrepreneurs Peter Gentzel and Daniel Axsäter explain how their start-up is turning the storage industry "completely on its head"...
Company name: bySTORED.
Founders: Peter Gentzel (29), Daniel Axsäter (33)
Background: Luxury brand marketing, IT security and management consultancy
Based in: London
Very simply, what does your tech start-up do?
bySTORED.’s mission is to make storage as easy as it possibly can be. We focus 100% on our customers and have shaped our service accordingly in order to turn the storage industry completely on its head.
This means that from a very basic perspective, we take care of all the elements that make short and long-term storage a very time-consuming and mundane task for consumers. Our drivers collect what our customers want to store from their home or office, this is then stored in our secure London warehouse, ready to be delivered straight back to the customer’s home or office. The order process is very simple and handled on our website.
From a deeper perspective, this means tailoring our service to each customer; lending 80 litre storage crates for free, providing two hour delivery slots, collecting within 12 hours of the customer placing their order if needed, and itemising what each customer has in storage on their online profile to our 100% service focus where flexibility plays a big part in our approach.
Tell us why there’s a need – what do you disrupt?
The past decade has seen somewhat of a renaissance in the storage industry, with companies such as Big Yellow and Safestore coming to dominate the market. Self-service storage rooms and lockers are available at nearly 400 locations across the UK.
It is an industry that was worth over £355m in 2013, and provides a useful solution to nearly 250,000 people across the UK. Positives aside, the industry has seen a lot of negative press in recent years for shoddy security in both facilities and staffing, as well as negativity towards price increases and hidden charges.
The market that bySTORED. is launching in is one that is known for its cut-throat attitude and as such has seen more of a focus on undercutting the competition, and less on delivering something of the best quality. bySTORED. aims to put the service back into storage, and remove the negative stumbling blocks that have hindered the industry.
Are you funded?
Yes, we’ve secured funding from private investors.
What were you doing before starting?
Gentzel’s background is in working with brand marketing within the luxury industry. He has previously held several senior positions at L’Oreal, managing for Giorgio Armani fragrances and Lancome, as well as working as marketing manager for highly reputed brand agency Romelle Swire. His deep understanding of brand design and marketing has helped form the bySTORED. image and values.
Axsäter co-founded bySTORED. after an entrepreneurial background in IT security and management consulting. He builds on five years of director level experience to achieve bySTORED.’s business goals. His experience in running a business has helped secure both funding as well as negotiate strong deals with insurers for the company.
What's the best thing about where you’re based?
The vibrant nature of the start-up community coupled with the diverse cultures that come together in London. There’s a lot of creativity, inspiration and status-quo challenging behaviour here, which we absolutely love.
There’s a genuine focus on delivering products and services that enhance people’s lives in one way or another; a philosophy we greatly sympathise with.
From a pure corporate perspective, London’s great in that there’s an emerging pool of talent coming through universities with an entrepreneurial spirit, focus and way of thinking. This promises a great future not only for companies like ours, but London as a continued business-leading city.