24 Storage raises $9M in growth capital from its existing investors.

Sweden Investments 24 August 2018
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24 Storage, a Stockholm, Sweden-based company providing storage services, announced in a press release securing a capital round totalling SEK 82M ($9M).

The money was provided by exisitng investors, including Staffan Persson, Martin Wattin, Eklöf Invest and Ernströmgruppen, together with Patrick Metdepenninghen and founder Michael Fogelberg.

In connection with  investment, 24Storage has also negotiated an extension of existing subordinated loans, which now expire until 2025. The company also announces three future facilities, one in southern Sweden and two in the Stockholm area, financed by bank loans. The total investment for the three plants is estimated at over 150 MSEK and will expand 24 Storage's stocks with over 1,000 stores.

24Storage, founded in 2015 by Michael Fogelberg, provides self storage facilities with automated solutions. In 2017, the company registered SEK 35M ($3.9M) in revenues.