OpenUnit Raises $150K in Pre-Seed Funding from Y Combinator

OpenUnit, a Toronto, Canada-based self-storage startup, raised $150k in pre-seed funding.

US accelerator Y Combinator provided the capital. OpenUnit joined its Winter 2020 (W20) batch and received mentorship in California at the beginning of the year.

With this capital, the company will be launching their management software and payments offerings, while also expanding its services directly by way of a marketplace that provides listings for self-storage units.

Co-founded by Taylor Cooney and Lucas Playford, OpenUnit provides facilities with modern tools to manage transactions, connect teams, and power customer experience. The company generates revenues primarily from payment processing fees via its merchant solution, OpenUnit Payments. OpenUnit Payments is a fully integrated payment processing solution that allows merchants to accept credit cards at attractive rates alongside a mobile point-of-sale product that’s designed to accept payments in-person at self-storage facilities.



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