Spacer, Costockage Team Up to Expand Services in Asia

Australia's “Airbnb of storage,’’ Spacer, and European firm Costockage will jointly launch their business in Asia’s growing self-storage market.

Sydney and ParisSpacer, an Australia-based peer-to-peer self-storage marketplace, has partnered with French company Costockage, Europe’s largest peer-to-peer storage provider, to enter Asia’s self-storage market, which is estimated at about $4 billion.

Mike Rosenbaum, Co-Founder & CEO of Spacer

Mike Rosenbaum, Co-Founder & CEO of Spacer

The two companies will pool their operational and marketing resources to launch their services into new markets, including Singapore, Hong Kong and Tokyo, which rank as the first destinations on the expansion list.

Already popular in Europe, the concept of peer-to-peer storage is gaining ground in Australia. Launched in October 2015, the Spacer platform is similar to sharing websites such as Airbnb and Uber. The startup enables users in need of storage to find available space in their local area from businesses and homeowners. All rental payments are made through Spacer, which collects a 15 percent commission, Inside Self-Storage reported. The company, which raised $1.2 million from angel and private investors upon launch, has amassed 5,000 members, with 750 active listings receiving more than 15,000 site visits each month.

According to Mike Rosenbaum, co-founder & CEO of Spacer, international expansion has always been part of the startup’s growth strategy, especially into the lucrative Asian self-storage market. “Our partnership with Costockage facilitates this by allowing us to draw on each other’s market knowledge, resources and experience to launch into new markets. Together, our goal is to build the world’s dominant peer-to-peer marketplace for space,” Rosenbaum said in prepared remarks.

Launched in 2013, Costockage provides more than 5,000 listings and more than 76,000 square feet (21 million cubic feet) of storage space in France.

“Asia holds unlimited potential, with space in major cities like Shanghai, Tokyo and Hong Kong, a luxury that many don’t have, with conveniently located quality self-storage facilities in short supply,” added Adam Levy-Zauberman, CEO of Costockage. “We look forward to working with Spacer to expand into this market and explore together other growth opportunities for both businesses.”

Image courtesy of Spacer.com.au