Hurr, a leading company in the rental sector, has recently received a substantial amount of funding, strengthening its prospects for growth. Thanks to a strategic investment from Praetura Ventures, CEO Victoria Prew expressed her appreciation for this financial support, which brought the company’s total funding to $10 million. Alongside Praetura Ventures, existing investors Octopus Ventures, Ascension, and D4 Ventures also participated in this funding round. Prew commended her team for their dedication to driving the business forward, while she focused on securing this investment. She also expressed gratitude for the confidence that both new and existing investors have shown in Hurr’s unique hybrid business model.
What sets Hurr apart in the rental sector is its combination of peer-to-peer commerce and rental services, offering over 130 brands and retailers to its customers. Their data has unveiled an intriguing trend, indicating that 75% of customers who rent from a particular brand eventually either make a purchase from that brand or show a keen interest in doing so. Prew emphasized the significance of this trend, describing it as “the ultimate new form of discovery for fashion.” Exciting plans for the future will be unveiled by Hurr in the upcoming months.
Initially established in 2019 as a peer-to-peer rental platform, Hurr has transformed into a hybrid model due to an increasing number of brands and retailers joining their platform. As a result, top participants can now earn up to £50,000 by monetizing their own wardrobes. Hurr has also formed significant partnerships with prominent names in the industry, including their recent announcement of powering Net-A-Porter’s inaugural rental pilot. Additionally, they provide rental capabilities for esteemed retailers such as Selfridges, John Lewis, Flannels, and Matches. Collaborations with acclaimed designers like Regina Pyo, Sandro, and Coperni have further solidified Hurr’s position in the market. Earlier this year, Hurr took a significant step by launching its first out-of-home marketing campaign in London, demonstrating their commitment to expanding their reach and establishing a strong brand presence.
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