HURR

HURR is a UK-based fashion rental and resale marketplace founded in 2018 by Victoria Prew and Matthew Geleta. Prew, who serves as the CEO, previously worked in property after her studies, while Geleta has a background in mathematics, theoretical physics, and computer science. The idea for HURR stemmed from Prew's interest in the sharing economy, questioning why wardrobes couldn't be rented like cars and homes, and a desire to move the fashion industry away from a linear, disposable model. The company name is derived from "Huur," the Afrikaans word for "Rent," a nod to co-founder Matthew Geleta's South African heritage.

HURR operates on a hybrid business model. Its core is a peer-to-peer platform where users can rent and lend designer clothing, which is accessible via a website and app. The company also partners directly with over 100 brands to offer their items for rental, a model it refers to as "Managed" items. To facilitate the rental process, HURR has partnerships for services like dry-cleaning with Oxwash and provides tools to ensure a smooth experience for its community. It maintains a physical presence with a pop-up location inside Selfridges in London.

A significant part of HURR's business is its B2B offering, "HURR Enterprise," a white-label, rental-as-a-service (RaaS) platform. This proprietary SaaS technology allows fashion brands and retailers to integrate rental services into their own operations. Selfridges Rental was the first client for this service. This zero-inventory model for HURR means that brand partners provide the stock, while HURR manages the logistics, including returns, cleaning, repairs, and customer support. The company makes money through commissions on rentals and fees from its enterprise clients. Data gathered from rental patterns also provides valuable insights for brand partners, with statistics showing that over 70% of renters are more likely to purchase from a brand after renting their products.

Since its launch, the company has seen significant growth, reporting an 850% year-over-year increase in registered users as of May 2021. In December 2021, HURR raised $5.4 million (£4.1 million) in a seed funding round led by Octopus Ventures to scale its operations and technology. The company has also expanded its offerings to include longer-term rentals and a flexible credit-based system called "Hurr Flex," moving beyond just occasion wear to cater to everyday style needs.

Keywords: fashion rental, circular economy, clothing rental, peer-to-peer marketplace, rental-as-a-service, RaaS, sustainable fashion, wardrobe sharing, white-label technology, Victoria Prew, Matthew Geleta, designer rental, fashion technology, circular fashion, luxury rental, clothing sharing platform, dress hire, HURR Enterprise, fashion e-commerce, sustainable retail