Lockall raises €155M to expand its storage solutions portfolio in Paris

Paris-based storage solution startup Lockall has recently secured €155M in funding from a subsidiary of the American investment firm Starwood Capital Group.
In a statement translated from French, Will Lawler, VP ,Starwood Capital Group, said, “We are delighted to support Lockall in its growth strategy in the very attractive market of the Paris region. Lockall has proven its ability to develop the best assets and services with exceptional operational excellence. This partnership is a continued sign of our confidence in the self-storage sector across Europe.”
“We are looking for new locations in Ile-de-France to meet the growing demand of artisans and individuals, with flexible storage, office and workshop solutions,” added Lawler.
Founded in 2020, Lockall operates five self-storage sites and aims to become a leader in the Ile-de-France region. The company plans to open four more locations and will announce two additional sites by the end of the year.
The company aims to expand its portfolio to a total of fifteen sites by 2026.
Alexis de l’Épine, Co-founder , Lockall, says, “It’s a real accelerator. 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.”
The company aims to expand its portfolio to a total of fifteen sites by 2026.
“In total, Lockall already boasts a portfolio of 9 sites which allows it to offer a total surface area of 82,000 m2, or approximately 10,000 individual spaces. This fundraising will allow us to pursue our strategy to meet the needs of individuals and professionals in the Paris region.”
“We would like to thank our new lender Starwood Capital Group and our historic shareholders Metric Capital Partners and Somurco for their trust,” added l’Épine.
Source: siliconcanals.com