SelStor

About SelStor

SelStor AB, founded in Stockholm, Sweden, in 2006 by Michael Fogelberg, established itself as a significant player in the Swedish self-storage market. Fogelberg, upon returning to Sweden, identified a need for practical storage solutions and launched the company, growing it to ten facilities primarily in and around Stockholm. The business catered to both private individuals and companies, offering a range of storage unit sizes for various needs, including moving, renovation, business inventory, or simply creating more space at home.

The company's business model revolved around owning and operating full-service self-storage centers. Revenue was generated by renting these storage units to customers. Key features included clean, secure, and well-lit facilities, often with amenities like climate control, keypad access, and surveillance to ensure the safety of stored belongings. In May 2008, SelStor secured a significant Series A funding round of $28.6 million from investors Smedvig Capital and First Risk Capital, which fueled its expansion.

A major turning point in SelStor's history occurred in December 2012 when the company was strategically acquired by Pelican Self Storage, a Danish company looking to expand into the Swedish market. This acquisition doubled Pelican's number of facilities, making it the second-largest self-storage provider in the Nordic region. Michael Fogelberg remained with the company until the autumn of 2013 to ensure a smooth transition. Following the acquisition, SelStor's facilities were rebranded under the Pelican Self Storage name, which continues to operate and grow in the Swedish market today.