We are pleased to announce that Growth Capital served as exclusive financial advisor to Radical Storage in its closing of a $7 million Series A round.
Radical Storage is a global online platform allowing travelers to temporarily store their luggage using spare room of local businesses. With over 9,000 storage points in 1,000 cities and 70 countries, the service allows tourists to book storage in businesses like cafes and supermarkets, which can in turn benefit from extra income and increased customer base.
Co-leading the transaction are CDP Venture Capital through its Digital Transition fund, Azimut through Azimut Eltif Venture Capital – ALIcrowd III fund, and Opes Italia Sicaf, an impact investment fund. Finint Investments also participated in the deal, along with current shareholder Vertis, through its funds Vertis Venture 2 Scaleup and Vertis Venture 4 Scaleup Lazio. More than $2 million were raised through Mamacrowd’s equity crowdfunding platform, which welcomed over 100 investors.
“At Radical Storage, we believe in creating simple, impactful solutions that make travel more convenient for millions of people around the world. This funding will allow us to deepen our commitment to customers, expanding our network and improving our technology to offer even more flexibility and accessibility. We’re excited not only to scale our operations globally but also to support local businesses by driving foot traffic and new revenue opportunities. We’re incredibly grateful to our existing investors who have stood by us and believed in our vision from the beginning, and to our new investors, who are providing us with the right momentum to enter this next phase of growth. Together, we’re ready to take Radical Storage to the next level, changing the way travelers experience luggage storage forever.” comments Alessandro Seina, CEO and co-founder of Radical Storage.
“As Growth Capital, we’re proud to have supported in its fundraising Radical, that has shown a steady growth path supported by solid unit economics. We believe this Series A will provide the company with the financial resources needed to accelerate international scaling and confirm its position as a global leader in its vertical.” comments Fabio Mondini de Focatiis, Founding Partner, Growth Capital.
Radical Storage plans to use the new funds to accelerate the conversion of new local businesses, aiming to reach a total of 30,000 by 2027. The company also plans to raise marketing efforts, optimize tech infrastructure, introduce new user features, and diversify operations by launching new business lines.
