Style Lend

Peer-to-Peer Fashion Rentals

Company Information

Website:

https://stylelend.com/

Sector:

Internet Software & Services, Clothing & Accessories

Location:

San Francisco, California

Style Lend is a peer-to-peer fashion rental marketplace.

On one side of the market, it helps women monetize their closet by renting out their fashionable clothes. (As the company says, "It's like Airbnb for your closet.")

Rental merchandise must be high-end designer wear that was originally purchased at a minimum price of $200. And it must be less than three years old.

On the other side of the market, the service enables women to access their dream wardrobe by allowing them to borrow any item at 90% off retail.

In December of 2016, the company processed $150,000 in transactions from the 2,500 listings it had in its marketplace.

In January 2017, the company had 50,000 new sign-ups from customers.

Here's one testimonial from a user, Moani Hara (who was Miss Hawaii 2014), that explains the "how and why" of the service:

"I had just flown in for the day in SF and it happened to be New Year’s Eve. I was invited to a fancy party and needed the right dress for the event so someone in my entourage mentioned Style Lend and a couple hours the dress I requested showed up at my door step. For under $100 I looked amazing and my what am I going to wear dilemma was solved."

The company is backed by some impressive investors, including Y Combinator, The Estee Lauder Family, and Metamorphic Ventures.

Team Background

Lona Duncan - Founder & CEO

Lona Alia Duncan started her career as a fashion model in Albania, doing runway shows and photo shoots for companies like Versace and Guess.

She then worked at software start-up Eyemaginations, which focused on educating patients about their health.

Prior to starting Style Lend, Duncan studied business at George Washington University.

Co-Investors

Y Combinator

Seed-stage accelerator whose alumni include Scribd, Reddit, Airbnb, Dropbox and Stripe

Metamorphic Ventures

Metamorphic Ventures, now known as Compound, is a New York City based venture capital firm that invests in early stage startups. Its portfolio includes IndieGoGo, MovableInk, and Songza.

Estee Lauder Family

Global Leader in Prestige Beauty.

Structure Capital

Early-stage venture fund. Investments include Uber, MakeSpace and Doorman.

DeNA

DeNA is a platform providing social games, e-commerce and other web services and investments for PCs and mobile devices.

Raising
$2 million
Committed
$2.805 million (140%)
Current Valuation
$8 million Cap / 20% Discount
Min. Investment
$25000
Deal Type
Title II
(For accredited investors only)
Offering Type
Convertible Debt
Finance History
  • $50K
    2015-03-01
    YCombinator
Notable Investors
  • Y Combinator
  • Metamorphic Ventures
  • Estee Lauder Family
  • Structure Capital
  • DeNA
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