An online platform for fashion rental is targeting further expansion after raising £7.9m.
The latest funding round for HURR has been led by Manchester venture capital firm, Praetura Ventures.
Founded in 2019 by Victoria Prew, the company is a community-led, peer-to-peer marketplace where users can lend clothes, bags and accessories to others.
It has also developed a software-as-a-service solution that can be white labelled by brands and retailers to rent out their products as they respond to rising demand for sustainable fashion.
“It’s clear to me that rental clothing is the future of fashion, with benefits like a reduced carbon footprint, lower prices and freedom to explore, setting it apart from traditional garment purchasing,” said Victoria Prew, founder and CEO of HURR.
“For my vision to be made real through the support from investors like Praetura Ventures makes all my and my team’s dedication and determination worth it.
“With the help from investors, we’ve been able to bolster our festive offering with our new collaboration with Net-A-Porter, now providing one-day rentals, and this is just a taste of the exciting announcements that are yet to come.”
Existing investors Octopus Ventures, Ascension and D4 Ventures also participated.
“HURR is playing a leading role in the circular economy. Their team are poised to offer consumers a real alternative to fast fashion and support retailers in their shift towards greener operations,” added David Foreman, Managing Partner at Praetura Ventures.
“We’ve been so impressed with Victoria and her founding team’s ability to build a community around their vision. We will be right beside them with our ‘more than money’ support as they continue to grow an exceptional business.”