Wednesday, March 8, 2006

Bag Borrow or Steal Raises $8M

Seattle-based Bag Borrow or Steal has raised a new round of funding worth $8.25M, the company announced this morning. The company raised a Series B funding from Madrona Venture Group, along with existing investors Impact Venture Partners and Valence Capital Management. Bag Borrow and Steal is developing an online service that allows consumers to rent designer handbags. The firm currently carries Balenciaga, Botkier, Chanel, Christian Dior, Chloe, Fendi, Louis Vuitton, and Marc Jacobs brand handbags. The company said that it will use the funding to expand its portfolio of designer products and accelerate growth. Paul Goodrich of Madrona joins the company's board. More information »