storabble, a rapidly growing European self-storage marketplace, has announced its acquisition of German valet-storage company on-storage. The deal, for which financial terms were not disclosed, includes on-storage's brand assets and its sophisticated technology platform. This strategic move marks storabble's first acquisition and signals a significant acceleration of its plan to build a comprehensive storage solution across Europe.
A Strategic Technology Acquisition
The acquisition centers on on-storage's proprietary logistics-management systems and operational expertise in the pick-up-and-delivery storage sector. While on-storage had ceased its direct-to-consumer operations, storabble identified immense value in its established technological infrastructure. This allows the Swiss aggregator to integrate a proven system rather than investing time and resources into building one from the ground up.
storabble has clarified that it is not entering the moving business itself but is making a strategic technology and brand consolidation play. The acquired software, which includes digital inventory management and last-mile coordination tools, will serve as a service layer. This enables third-party valet-storage providers to be seamlessly onboarded onto the storabble marketplace at a large scale.
Consolidating a Fragmented Market
The European self-storage market, currently valued at approximately $18 billion, remains one of the most fragmented sectors in real estate. With over 3,500 facilities operating without a unified digital platform, consumers face a confusing landscape of local and regional operators. storabble aims to eliminate this friction, much like booking platforms transformed the travel industry over a decade ago.
By aggregating inventory onto a single, searchable map, storabble is building the digital layer the industry has been missing. The platform already lists over 42,000 storage rooms across more than 4,100 locations in Austria, Germany, and Switzerland. The integration of on-storage's technology adds the logistics backbone needed to serve Europe's fastest-growing segment: valet storage.
A Vision for European Expansion
Oliver Meyer, founder and CEO of storabble, emphasized that the goal is to create a single destination for all storage needs. "This acquisition gives us the technical backbone to make that vision real across all of Europe," he stated. This move empowers customers to either rent a traditional storage unit or book a convenient pick-up-and-delivery solution through one platform.
The sentiment is shared by on-storage co-founder Melvin Steele, who called storabble the "right home" for the technology they developed. "Their vision for a centralized, transparent marketplace is the future of this industry," Steele remarked. He expressed pride that on-storage's technology will now contribute to storabble's rapid scaling and ambitious European expansion plans.
From University Project to Market Leader
Founded as a university project in St. Gallen, storabble has demonstrated impressive growth, securing investment on Switzerland's version of "Shark Tank." Founder Oliver Meyer was also named to the Forbes "30 Under 30" list for Switzerland in 2024. The company now plans to integrate the new technology and onboard mobile storage providers across Germany and Austria, with France and the Netherlands next on its roadmap.
This acquisition is a pivotal moment for storabble, transforming it from a promising startup into a formidable force in the European storage market. By strategically acquiring key technology, the company is well-positioned to execute its vision of creating a unified, user-friendly platform. The move solidifies its path toward becoming the dominant digital marketplace for storage solutions across more than ten European countries by 2028.