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.
Never Miss a Retail Update!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.”
