HURR — a “Rent the Runway” style U.K. fashion rental marketplace — has raised $5.4 million in a seed funding round led by European VC firm Octopus Ventures. Also participating was Ascension and D4 Ventures, among others.
HURR launched in 2019 and has a hybrid business model, combining peer-to-peer fashion rentals, direct partnerships with fashion outlets and a white-label service with retailers such as Selfridges Rental. It also has a physical store in Selfridges London, and a partnership with global resale platform Depop.
Commenting, Victoria Prew, CEO and founder of HURR, said: “As a millennial, I’m part of a generation that loves shared ownership. We’ve all witnessed the rise of disruptive tech-first businesses such as Airbnb and Uber and, if we can rent our houses and cars, why not our wardrobes.”
Matt Chandler, consumer investor at Octopus Ventures, said: “HURR is perfectly placed to capitalize on the shift towards new models of ownership and spearhead the transition to a more climate-friendly fashion industry.”
Source: New feed