Bundlee, which claims to be a sustainable and scalable kidswear rental subscription, creating a better future to grow into, has secured 101% (£335,986) of its £330,001 target (at the time of writing) from 106 investors with 4 days left in the firm’s crowdfunding campaign, carried out via Seedrs.
Located in London, United Kingdom, Bundlee operates in the Clothing & Accessories sectors (Mixed Digital/Non-Digital B2C). Incorporated in July 2017, the firm reports a Valuation (pre-money) of £4M; Equity offered: 7.73%; Share price: £2.12; Tax relief is N/A.
Business highlights are as follows:
- 233% subscriber growth in 2022 to over 1,000 subscribers
- Brand partners include Stella McCartney Kids, Patagonia and MORI
- Tech powered scalable system has completed over 60,000 rentals
- Backed by Monzo & Sweaty Betty founders + Mindful Chef investors
Key features are: Secondary Market; Seedrs nominee min. £50.88 +; Direct investment min. £20,000.00 +.
As noted in the update, Kidswear is reportedly “the fastest fashion.” Little ones are “constantly outgrowing their clothes.”
As mentioned in the update, the average family “spends over £2,000 on kids’ clothes annually, their third largest expense after childcare and food.”
Whilst outgrown pieces contribute to the 300,000 tonnes of clothing “that the UK sends to landfill every year.”
Searching for the next size up, and figuring out “what to do with outgrown clothes, gets very tedious very quickly.”
According to the announcement, families need “a solution that’s less wasteful, expensive and time-consuming.”
At Bundlee, they are focused on the rental subscription service for kidswear.
They are on a mission “to create a better future for little ones to grow into.”
Their innovative circular model “helps parents save money, time and waste, whilst restoring peace in their homes.”
They aim to “disrupt the £6.8 billion UK and $260 billion global childrenswear markets for the better, by designing waste out of fashion.” They aim to “extend the lifespan of clothes by 400% and are proud to have sent zero clothes to landfill.”
They make recurring revenue through their monthly subscription model. They offer 2 plans so families “can choose the best fit.”
Whilst having profitable unit economics for them, their model also “saves families over 70% and reduces carbon dioxide equivalent emissions by 86% compared to buying new clothes. It’s win-win-win.”
Their scalable system has already “powered over 60,000 clothing rentals, enabling them to collect valuable first-party data on the rental lifecycle of their clothes.”
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