Tue, Nov 28th 2023
Yuno, a start-up belonging to the Migros Group, is expanding into French-speaking Switzerland. The company is now also offering its consumer electronics subscriptions in French-speaking Switzerland, as Migros announced on Tuesday.
Yuno was reportedly founded in 2021 as a pilot project by Migros venture capitalist Sparrow Ventures. The company rents out electronic devices such as cell phones, cameras and tablets on a subscription model, which also includes the maintenance of the devices. The company entered the market in German-speaking Switzerland in May 2022. Since then, the number of current rental contracts has risen steadily.
In spring 2023, Migros has approved a further financing round, according to the statement. The fresh capital, the amount of which is not disclosed in the press release, will be used to finance market entry in French-speaking Switzerland and a new website, among other things. Based on a market study conducted in April, Migros sees greater potential for Yuno in French-speaking Switzerland than in German-speaking Switzerland.
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