Retail

WhyBuy - When you can rent better for less?

by Jamie Conway
Created 30 Dec, 2021 | Portslade Road, London, undefined, England, United Kingdom SW8 3DH
  • £150,000 Amount required
  • No deadline
WhyBuy was founded in 2019 with a mission to address the question - Why buy items you infrequently use that take up space in your home and garage but have limited usage? How can we provide high quality experiences that make the rental process BETTER than ownership?
So we decided to build our own platform.
  • WhyBuy eliminates the need for excessive ownership in the same way Spotify eliminated the need to have physical CDs
  • WhyBuy is an ethics-first business that recognises consumer demand for responsible and sustainable services that allow consumers to minimise consumption levels without compromising on quality and convenience
  • WhyBuy allows customers to hire consumer durables they need but do not want to own and solves customers’ problems with storage, maintenance, cost and infrequent use
  • WhyBuy supplies premium products and is not peer-to-peer
  • By allowing customers to hire rather than buy, increased utilisation results in a more sustainable use of resources and eliminates duplication across households
  • WhyBuy has designed and built a bespoke platform to support our App & Website – developed and future proofed for multi-currency and multi-lingual deployment
  • Founded in 2019 and now operating across London, WhyBuy is now ready to expand nationally and internationally with a proven model and has begun a Series A round which will compete in Q2 2022 and is currently seeking working capital for the next 6 months to completre the round.
  • For this current fuding round of up to £150,000, the valuation is £2.75m with a significant increase expected as part of the Seroes-A round.
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