Rent The Runway Receives $15 Million In Funding

Rent The Runway is a website where you can rent designer clothes at a reduced price for a four night loan. The cost of the designer clothes is at a 10% retail price. This business model is the reason why the company raised $15 million in funding, according to an SEC filing. Bain Capital Ventures was involved in the company’s seed funding. And a previous filing indicates that the company raised $1.5 million. [TechCrunch]

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