French Self-Storage Developer Lockall Raises €155M for Paris Expansion

Lockall, a Paris-based startup that currently operates five self-storage facilities in France, has raised €155 million to expand its footprint in the country’s capital. The investment is from a subsidiary of Starwood Capital Group, an American private-investment firm, according to sources.

Lockall plans to open four more self-storage locations and identify two development sites this year. It aims to have 15 total facilities by the end of 2026, sources reported.

“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,” said Alexis de l’Épine, cofounder of Lockall. “This fundraising will allow us to pursue our strategy to meet the needs of individuals and professionals in the Paris region.” 

“We are delighted to support Lockall in its growth strategy in the very attractive market of the Paris region. This partnership is a continued sign of our confidence in the self-storage sector across Europe,” said Will Lawler, vice president of Starwood.

Founded in 2020, Lockall provides traditional self-storage units as well as private workshops, individual and shared workspaces, and offices for use by artisans and entrepreneurs. The company primarily builds on former brownfield sites in Paris suburbs.

Founded in 1991, Starwood has raised more than $65 billion of capital and has more than $105 billion of assets under management.

Sources:
Tech Funding News, Lockall Lands €155M to Open Additional Storage Sites in France