Clothing rental startup HURR has raised $5.4 million (£4.1 million) in seed funding in a sign of rising investor appetite for second-hand fashion.
HURR, founded and led by Victoria Prew, allows consumers to borrow clothes from one another over its website, taking a 15 per cent commission from the lender.
The company also rents out stock from the likes of Balenciaga and Dior on its site and operates a concession in Selfridges on Oxford Street.
Investors are betting that the second-hand trade can benefit from fashion’s huge carbon footprint. Researchers at McKinsey estimate the fashion industry’s greenhouse gas emissions in 2018 matched the total emissions of France, Germany and Britain combined.