London-based fashion rental marketplace Hurr has secured fresh financing that takes its total funding to date to £7.9 million ($10.0 million U.S.).
The latest round was led by Praetura Ventures, with existing investors, including Octopus Ventures, also participating.
Hurr employs a hybrid business model that combines peer-to-peer lending with clothing rental, working with more than 130 fashion brands and the U.K.’s four biggest retailers.
“Taking advantage of the demand among consumers to rent high-fashion pieces, Hurr is continuing to establish itself in fashion, with major partnerships with luxury brands, such as Net-a-Porter,” said Praetura Ventures.
Founded by CEO Victoria Prew in 2017, Hurr says it aims to drive a “shift from ownership to access” in “environmentally unfriendly” fashion retail.
A 2021 seed funding raise led by Octopus Ventures — which has also invested in fashion resale site Depop — netted the company £4.0 million.