Avelle Raises $1M, Bonanza Rolls Out Bags Marketplace

Thea Chard10/13/10

Seattle-based Avelle (formerly known as Bag Borrow or Steal), has raised $1 million in debt financing, according to a regulatory filing. Founded in April 2004, Avelle, known as the “Netflix for handbags,” offers members the ability to rent high-end bags and jewelry from over 3,000 designer labels for a small monthly fee. This deal comes on the same day as Seattle-based online marketplace Bonanaza (formerly Bonanzle) rolled out its first specialty store, BagsBonanza, which will features more than 20,000 handbags and custom fashion items for sale.

Thea Chard is a correspondent for Xconomy Seattle. You can e-mail her at theachard@gmail.com or follow her on Twitter at http://twitter.com/theachard. Follow @