The Box Secures $12.5M Financing Deal Led by Shorooq
The Box Plans to Further Expand Self-Storage Footprint in the UAE
DUBAI, AE / ACCESS Newswire / February 20, 2025 / Shorooq, the leading multi-dimensional investment firm, renowned for its strategic commitments in the MENA region, leads a $12.5 million financing through its Credit Practice in The Box, a Dubai-based self-storage company addressing modern storage and logistical challenges faced by individuals and businesses. With an aim to expand and develop new flagship storage facilities, The Box is poised to transform the self-storage landscape across the UAE and enhance urban living convenience.The Box Wadih Finance Round by Shorooq CEO and Founder of The Box, $12.5M Financing Round by Shorooq
Against the backdrop of a growing expat-dominated population, demand for flexible storage solutions continues to rise as consumers increasingly seek adaptable, stress-free ways to manage personal and business belongings. The Box is the clear market leader in the UAE, operating a significant portion of self-storage space in the market, designed to accommodate a wide range of personal and business needs. Offering units ranging from small lockers of 25 square feet up to 1,000 square foot rooms, and anything in between, The Box ensures flexible storage solutions tailored to various needs.
Driving growth remains a core ambition for The Box. This newly raised capital will support the construction of a brand-new self-storage facility in the heart of Dubai, further expanding the company's already market-leading position. As urbanization accelerates and the self-storage industry responds to the drive towards smart city infrastructure, The Box's role is becoming even more pivotal.
The partnership with Shorooq complements The Box's vision to empower individuals, making room for tomorrow by redefining space management. Acknowledging the partnership's significance, The Box's Founder and CEO expressed with enthusiasm, 'With Shorooq's strategic support, we are excited to expand our reach and deliver an exceptional storage experience. We look forward to elevating the standards of the self-storage industry in the region to meet the demands of modern urban living.'
Shorooq, known for its strategic foresight in investing across fintech, platforms, and deep tech, sees immense potential in The Box's consumer-oriented model and its alignment with urban growth trends. 'The Box signals our commitment to backing transformative industries within the MENA region,' explained Joe Barron, Senior Investment Professional within the Credit Practice at Shorooq. 'The Box's approach matches our ethos of enhancing life through intelligent, responsive solutions, and we are excited to propel them into their next phase of growth with the construction of a new flagship facility in the heart of Dubai.'
Through this collaboration, both entities are set to champion innovative solutions that cater to today's fast-paced lifestyle, leveraging Shorooq's strategic insights to solidify The Box's position as a leader in self-storage. The anticipated launch of sustainable, state-of-the-art facilities across the region promises to meet the increasing demands for reliable storage solutions.
Looking ahead, The Box aims to build robust, technology-enhanced spaces that offer seamless access and security, ensuring that every 'green door' reveals more than just storage - it unveils a story, representing new opportunities and a new chapter in self-storage innovation.
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