// Hurr raises £4.1m funding to expand operations
// The company will invest in technology and grow both its subscribers and number of partners
Hurr Collective has announced it has raised £4.1 million funding from a US firm to expand its operations.
The fashion rental platform expressed an interest in scaling up its “disruption of women’s fashion”.
Hurr has raised $5.4 million (£4.1 million) in seed funding from Octopus Ventures to expand its platform.
READ MORE: Big Interview: Victoria Prew, Co-Founder & CEO, Hurr Collective
The company will invest in technology and grow both its subscribers and the number of partners that it works with.
Since launching in 2019, Hurr has built a hybrid business model featuring more than 85 exclusive fashion partners and a white-label service that powers rental for retailers such as Selfridges.
It also operates physical space in the London department store, and announced an industry-first partnership with global resale platform Depop this year.
“I am absolutely convinced that the future of fashion is circular, and we are proud to be at the forefront of this accelerating consumer shift,” Hurr founder and chief executive, Victoria Prew said.
“In the UK alone, customers spend £2.7 billion on outfits they wear just once while more than $400 billion of clothing is discarded across the globe each year – another shocking statistic.
“As a millennial, I’m part of a generation that loves shared ownership. We’ve all witnessed the rise of disruptive tech-first businesses such as Airbnb and Uber and if we can rent our houses and cars, why not our wardrobes.”
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