HURR — a “Hire the Runway” model U.Okay. trend rental market — has raised $5.4 million in a seed funding spherical led by European VC agency Octopus Ventures. Additionally taking part was Ascension and D4 Ventures, amongst others.
HURR launched in 2019 and has a hybrid enterprise mannequin, combining peer-to-peer trend leases, direct partnerships with trend retailers and a white-label service with retailers resembling Selfridges Rental. It additionally has a bodily retailer in Selfridges London, and a partnership with world resale platform Depop.
Commenting, Victoria Prew, CEO and founding father of HURR, mentioned: “As a millennial, I’m a part of a era that loves shared possession. We’ve all witnessed the rise of disruptive tech-first companies resembling Airbnb and Uber and, if we are able to hire our homes and automobiles, why not our wardrobes.”
Matt Chandler, client investor at Octopus Ventures, mentioned: “HURR is completely positioned to capitalize on the shift in direction of new fashions of possession and spearhead the transition to a extra climate-friendly trend business.”