On February 20th, Beijing time, the furniture rental brand Feather announced that it had completed a $ 30 million Series B financing. This round of financing is led by Cobalt Capital, which will be used to expand its proprietary reverse logistics infrastructure, expand new markets, and expand its workforce. After this round of financing was completed, Feather's total funding reached $ 46 million.

Jay Reno, founder and CEO of Feather, said: "Cobalt Capital is an outstanding partner of ours, who support what we are doing-making the most of the value of furniture and avoiding waste, because our two parties The relationship between consumers and products shares a common vision. "

Dan Abrams, a partner at Cobalt Capital, said, "Feather provides revolutionary furniture solutions that change the way people decorate homes. We are excited to support Jay Reno's vision and leverage our new consumer and Internet industries Experience to help Feather take it to the next level. "

Founded in 2017, Feather is an Internet-based shared furniture company that follows the trend of anti-consumerism that has prevailed in Europe and the United States in recent years. Feather currently provides services in 4 major cities including New York, San Francisco, and Los Angeles. With Feather, consumers can rent more than 150 professionally-selected furniture that covers a variety of styles, categories, and brands-including West Elm, Pottery Barn, Casper, Joybird, and Feather's own brands. Its main competitors include CORT, Rent A Center, In lease, Aaron's, etc.

Unlike traditional furniture leasing companies, Feather's customers do not need to pay a deposit for furniture, but instead use a member subscription system to improve user stickiness.

It offers two furniture subscription programs: non-member programs and member programs. Non-member customers do not need to pay the monthly membership fee, but the minimum monthly rent is $ 99 per month, in addition to the furniture delivery and assembly fee of $ 99 / time, the furniture package replacement fee of $ 99 / time, the replacement of the furniture package The period must not be less than 3 months. Members only need to pay a membership fee of $ 19 per month to enjoy a minimum monthly rent of $ 29 per month, which can dispense with furniture delivery and assembly costs and get a discounted price, and get a free furniture replacement package once a year; in addition, members also You can change the package at any time without being limited by the 3-month cycle. If you exceed the free replacement limit, you need to pay $ 99 each time. According to the founder, the membership plan is more popular with users.