New York-based proptech startup Stuf raises $1.8m to reimagine self-storage for modern users

Self-storage startup Stuf raised $1.8 million in seed funding led by Wilshire Lane Partners and Harlem Capital, to accelerate company's first mover advantage in monetizing underutilized real estate to bring modern, tech-enabled storage solutions closer to consumers.

Stuf is building a "right next door" storage network to deliver an elevated member experience powered by technology. The company partners with real estate owners via revenue sharing agreements to monetize basements, garages, retail, and other spaces to create new cash flow opportunities and provide amenities to building tenants.

Katharine Lau, CEO and Co-founder, Stuf: "Stuf was born to address a common problem - people have too much stuff and nowhere to put it. Traditional options are out of the way, inconvenient, and provide little to no customer service. Today, millennials use self-storage more than any other generation as they tend to live more flexible lifestyles. Additionally, women make up over 60% customers, yet traditional operators have done very little to serve this powerful customer segment. Stuf is on a mission to redefine the storage experience for the modern user, and I'm thrilled Wilshire Lane Partners and Harlem Capital will serve as strategic partners in that journey."

Today, the company has 3 locations with plans to continue growing it's national footprint in core urban markets by partnering with landlords across portfolios. Stuf CEO, Katharine Lau, previously led the real estate team at Industrious responsible for all supply-side landlord-facing growth, taking the portfolio from 12 to 100+ locations in 4 years while navigating a critical shift from traditional leases to landlord partnerships.

Henri Pierre-Jacques, Managing Partner, Harlem Capital: "Stuf is truly special because, business opportunity aside, two Black-led VC funds came together to invest in a business founded and run by a woman. Katharine stood out given her industry expertise, leadership and vision. We couldn't be more excited to be on the journey with her as she looks to alter the storage industry."

Adam Demuyakor, Co-founder and Managing Partner, Wilshire Lane Partners: "It has been a pleasure to partner with Katharine and back her in the early days by incubating Stuf. She is a proven industry operator with a wealth of experience and relationships across both the real estate and technology sectors. Specifically, she knows what the self-storage industry needs and has been lacking for decades – particularly for millennials and women – and is well equipped to disrupt the industry in a major way."

The seed funding will enable Stuf to expand the national network, launch new technology, and refine the member experience. Stuf is poised to launch over 100,000 square feet in 2021 with plans to introduce new digital products over the coming months.

stufstorage.com