LuggageHero adding 36 more cities after $1.4 million in funding
LuggageHero adding 36 more cities after $1.4 million in funding

LuggageHero adding 36 more cities after $1.4 million in funding

Leading storage service will use the funds to expand into 36 more cities in North America and Europe

COPENHAGEN, Jan. 29, 2019

Luggage-storage network LuggageHero announces an investment of $1.45 million, led by $1.15 million from venture capital firm Nordic Eye, with additional funds coming from the Danish Growth Fund (Vaekstfonden) and Innovation Fund Denmark (Innovationsfonden).

The financing will be used to expand LuggageHero sites into 36 additional cities. The service currently operates in New York City, London, and Copenhagen, providing travelers with more than 300 luggage storage locations throughout the three cities. The expansion is expected to provide an additional 1,700 storage locations, bringing service to 39 cities by January 2020.

The first nine cities to be launched, in spring 2019, are San Francisco, Boston, Chicago and Montreal in North America; and Barcelona, Lisbon, Madrid, Paris, and Rome in Europe.

LuggageHero offers travelers an economical and convenient way to store luggage hourly by using existing locations, such as local shops, cafes, and hotels. Since it launched in 2016, LuggageHero has stored more than 125,000 pieces of luggage for a total of more than 650,000 hours in storage. Each piece of luggage is insured for up to $3,000. The service is especially popular among users of Airbnb and other non-hotel lodgings, which do not offer luggage storage.

Meanwhile, LuggageHero’s vetted vendors, which are compensated for storing luggage, benefit by having extra revenue as well as greater foot traffic and visibility. LuggageHero also is adding third-party integration, which will widen the path to partnership and profitability.

“LuggageHero has rapidly developed a leadership position in the competitive market for self-service luggage storage,” said Peter Warnoe, CEO of Nordic Eye. “We’ve been very impressed with their growth so far, and LuggageHero is exactly the kind of founder-led, nimble business that we like to invest in.”

Danish founder and CEO Jannik Lawaetz hatched LuggageHero from personal experience as a traveler and Airbnb host, where more than half his guests would ask for a place to leave their bags on checkout day. The company has raised a total of $2.25 million over two rounds.  Since launching, LuggageHero has experienced double-digit monthly revenue growth and is on its way to becoming the world’s leading luggage-storage service.

“Nordic Eye, with a presence in our European headquarters and in California, is an ideal backer as we continue to scale our business globally,” said Lawaetz. “We’re excited to have them on board, as well as Vaekstfonden and Innovationsfonden.”
“Above all,” Lawaetz said, “we’re looking forward to giving many more travelers convenient, safe and affordable luggage storage.”


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Contact for information:
Jannik Lawaetz, founder and CEO
Skype: jannik.lawaetz
USA: 718-509-9271