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Hurr secures $5.4 million in new funding

The Hurr fashion rental marketplace has raised $5.4 million in seed funding. Launched in 2019, the company uses a hybrid business model that includes peer-to-peer fashion… View Article

FASHION

Hurr secures $5.4 million in new funding

The Hurr fashion rental marketplace has raised $5.4 million in seed funding.

Launched in 2019, the company uses a hybrid business model that includes peer-to-peer fashion rentals, partnerships with fashion outlets, and a recently launched white label service where clients include retailers such as Selfridges Rental.

It also has a physical space in Selfridges’ London department store and has embarked on a partnership with the Depop resale platform.

The funding round will be led by Octopus Ventures with participation from D4 Ventures and Ascension amongst others.

Hurr will use the funds to expand the business, invest in unique technologies and grow its white label portfolio.

Victoria Prew, chief executive and founder of Hurr, said: “I’m absolutely convinced that the future of fashion is cyclical and we are proud to be at the forefront of this accelerating consumer shift.

“As a millennial, I’m part of a generation that loves shared ownership. We’ve all witnessed the rise of disruptive of disruptive tech-first businesses such as Airbnb and Uber and if we  can rent out our houses and cars, why not our wardrobes.”

Matt Chandler, consumer investor at Octopus Ventures, added: “Hurr is perfectly  placed to to capitalise on the shift towards to new models of ownership and spearhead the transition to a more climate friendly fashion industry.

“We see a huge opportunity for scale and are excited to leverage our experience working with Depop as we partner with Victoria and her team.”

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