HURR raises a total of £7.9m to fuel growth of its rental platform

HURR has received backing from Praetura Ventures in a new funding round, with participation from existing investors including Octopus Ventures, Ascension and D4 Ventures, taking the total funds raised by the fashion rental platform to $10 million (£7.9m).

Commenting on the news, first reported by WWD, founder Victoria Prew said the strategic investment by the VC Praetura was a milestone "I’ll remember for the rest of my life".

"In one of the toughest fundraising markets, I’ll be forever grateful to team HURR for holding the fort whilst this became my full time job and for our new (and existing) investors for their belief in the HURR hybrid business model. Combining our incredible peer-to-peer community whilst also powering rental for 130+ of your favourite fashion brands and the UK’s four biggest retailers.

"I am SO unbelievably proud. We do what we do because HURR is the next-big-thing in fashion and the time for shift from ownership to access needs to happen ASAP.

"With 2% of VC funding going to female founders, today we share this news so the next generation of entrepreneurs know that through sheer GRIT and determination it can be possible," Prew said in a post on Linked-in.

HURR began life in 2017 when entrepreneur Victoria Prew set up the business as a counterpoint to the rise in fast-fashion and constant "newness" in fashion. It began as a peer-to-peer rental platform but has gone on to use its platform power the rental services of many fashion brands and retailers, including John Lewis and Mulberry among others.

Last week it was revealed that HURR would be one of the partners powering the first rental pilot project with luxury platform Net-A-Porter.