Migros enters the rental business with startup Yuno
Zurich: Yuno is the name of the latest startup of Sparrow Ventures, the innovation engine of the Migros Group. By renting out consumer electronics, Yuno offers the Swiss population a flexible and sustainable alternative to buying and thus serves a rapidly growing trend. Initiated in December 2021 as a test project, the development since market entry in May of this year has been well above plan. Yuno has now received growth financing in the single-digit million range and is aiming high.
“Our goal is to build Yuno, the leading rental provider for consumer electronics in Switzerland,” says Lorenz Lüchinger, CEO of Sparrow Ventures, summing up the startup’s ambitious growth target, adding: “The growth curve for new contracts is steep. The positive performance exceeds our expectations and has encouraged us to continue to drive growth.” With the fresh capital from the financing round, Yuno wants to further expand its customer base and continuously expand its product range with the latest consumer electronics. Customer wishes are taken into account. Currently, more than 220 different electronic devices are available on www.yuno.ch.
Yuno scores points 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 to immerse yourself in the virtual world or the most modern projector for the upcoming World Cup. The reservation of the latest version of the iPhone is possible before the official start of sales. Customers can define their contract duration flexibly, choose between different subscription models, and benefit from free return shipping. Yuno does not charge advance costs, and insurance in case of damage is included in the rental price, as is the service of the equipment.
An important contribution in terms of sustainability
The rental concept is also sustainable. By changing hands several times over the course of their life cycle, mobile phones, tablets, or digital cameras support the circular economy. In addition, the reduction of electronic waste is promoted. The concept of Yuno helps to ensure that devices that are no longer needed but still functional are not forgotten in the drawer. Regular service and repair can help increase the life of the products.
Yuno currently obtains the products offered for rent from the Migros company, Digitec Galaxus.
Yuno complements Migros’ offering Like the startup WePractice, Yuno comes from the think tank of Sparrow Ventures, the growth capitalist and ventures builder of Migros
Group. Lorenz Lüchinger: “With Yuno, we are offering the Swiss population a sustainable alternative to the purchase offer and thus complementing the existing portfolio of the Migros Group. Customers have the option of choosing between rent and purchase individually, depending on 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.
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.
