• Rent the Runway inks $200 million credit facility with Temasek

    8 monthes ago - By Tech Crunch

    Rent the Runway today announced that it has partnered with Temasek for a $200 million credit facility.
    Founded in 2009, Rent the Runway lets users rent items of clothing for special events or occasions, bringing runway styles to folks without the cash to purchase the clothing outright.
    Rent the Runway started out by letting users rent their wares for about 10 percent of the item's price. But in 2017, RTR introduced a subscription model, giving users unlimited rentals for $89/month.
    The model has already been proven by other businesses. RTR started giving users access to fashion in the same...
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