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The Aurora Angel Network announced it has invested an undisclosed amount in local fashion tech startup Guilty, Puerto Rico’s first subscription-based fashion service.
Leveraging the growing sharing economy ecosystem and a proprietary platform, Guilty allows its clients the ability to constantly refresh their wardrobe, pulling from hundreds of items in their own virtual closet for an affordable monthly fee.
Founded in November 2017 in the aftermath of Hurricane María, Guilty’s team has distinguished itself in entrepreneurial programs such as pre18, Parallel 18, and Grupo Guayacán’s EnterPRize business competition.
“We’ve always been believers in Puerto Rico and in creating our own opportunities. With the rise of the sharing economy, my co-founder, Armando Sánchez, and I saw an opportunity to apply this concept to the fashion industry and target the underserved Latino market,” said Suhaily Sepúlveda, attorney and Guilty’s co-founder.
“Essentially, we’re giving women access to a much larger and dynamic closet, adapted to the vibrant style of Latinas, in the same way that Uber and Airbnb have created shared transportation and accommodations,” she said.
“Our team is very excited for this next phase of the company and we look forward to making Guilty the top fashion tech company in Latin America,” Sepúlveda said.
Aurora said it viewed the investment in Guilty as an “exciting opportunity” to support the growth of a local innovative startup not only with their capital, but also with their professional experience and networks as Guilty expands to the rest of the island and beyond.
“Guilty is an attractive investment for our members because it is building on the emerging concept of a sharing economy, an exciting and growing space, and because it has a demonstrated track record of growth and excellent customer loyalty,” said Liana O’Drobinak, Aurora’s managing director.
Guilty will use the funds to expand its service to the rest of the island, launch new subscription alternatives, and grow its catalog by adding more apparel choices that its customers will love.
Aurora Angel Network, Corp. is an angel network founded in 2019 whose objective is to connect startups with investors interested in providing seed capital and advisory services. Aurora members aim to promote growth for innovative companies in Puerto Rico.
Aurora is now accepting new applications for its quarterly Screening Committee until July 3rd.
As originally reported by: News Is My Business
