Migros enters the rental business with startup Yuno

11.10.2022 | from Migros-Genossenschafts-Bund


11.10.2022, Yuno is the name of the latest startup from Sparrow Ventures, the innovation driver of the Migros Group. With the rental of consumer electronics, Yuno offers the Swiss population a flexible and sustainable alternative to buying, thereby serving a rapidly growing trend. Initiated as a test project in December 2021, the development since market launch in May of this year has been well above plan. Yuno has now received growth financing in the single-digit million range and wants to aim high with it.

"Our goal is to build Yuno, the leading rental provider for consumer electronics in Switzerland," says Lorenz Lüchinger, CEO of Sparrow Ventures, summarizing the ambitious growth target of the start-up and adds: "The growth curve for new contracts is steep. The positive performance exceeds our expectations and has encouraged us to continue driving growth." With the fresh capital from the round of financing, Yuno intends to further expand its customer base and continuously expand its range with the latest consumer electronics. Customer requests are included. More than 220 different electronic devices are currently available at www.yuno.ch.

Yuno scores with customers in several respects: The flexibility of the contract duration is a central USP. Technical devices such as smartphones, digital cameras or computers can be tested over a certain period of time or rented for special events, such as the VR headset for immersing yourself in the virtual world or the state-of-the-art projector for the upcoming World Cup. The latest version of the iPhone can be reserved before the official start of sales. Customers define their contract duration flexibly, can choose between different subscription models and benefit from free outward and return shipping. Yuno does not charge upfront costs and insurance in the event, if damage is included in the rental price, as it is the service of the devices.

Important contribution in terms of sustainability
The rental concept is also sustainable. The circular economy is supported by the fact that mobile phones, tablets or digital cameras change hands several times over the course of their life cycle. In addition, the reduction of electronic waste is promoted. The Yuno concept helps ensure that devices that are no longer needed but still work are not forgotten in the drawer. Regular service and repairs can help increase the lifespan of the products.

Yuno currently obtains the products offered for rent from the Migros company Digitec Galaxus.

Yuno complements the Migros range
Like the startup WePractice, Yuno comes from the think tank of Sparrow Ventures, the growth capital provider and venture builder of the Migros Group. Lorenz Lüchinger: "With Yuno, we are offering the Swiss population a sustainable alternative to the purchase offer and are thus supplementing the existing portfolio of the Migros Group. Customers have the option of choosing between renting and buying individually and according to the situation.»

About Sparrow Ventures
Sparrow Ventures is a Zurich-based venture builder and growth capitalist. With a unique organizational structure and an experienced team of experts from different disciplines, Sparrow Ventures focuses on building and financing young companies in a variety of relevant fields, in particular Food & Beverage, Last-Mile, Fintech, Digital Health as well as Sustainability & Circular Economy and Commerce & Shopping as well as Travel. Sparrow Ventures is an independent subsidiary of the Migros Group. www.sparrow-ventures.com

Federation of Migros Cooperatives
Communication & Media Directorate
Limmatstrasse 152
CH-8031 Zurich

+41 (0) 58 570 38 38

Note: This article was translated from German to English by an online translator.

--- END press release Migros enters the rental business with startup Yuno ---


More information and links:
  Migros-Genossenschafts-Bund (company entry)

  Die Migros steigt mit Startup Yuno ins Mietgeschäft ein (news article in german on swiss-press.com)


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