'Netflix for Legos' startup raises $6.75M

Pley, a startup that rents Lego sets through monthly subscriptions, raised $6.7 million in funding from investors, according to Fortune. The list of investors includes Allegro Venture Partners, Floodgate and Correlation Ventures.

Pley, launched in 2012, ships Lego sets to customers using the Netflix-pioneered model of renting items through the mail.

"Ownership is old school," Pley co-founder Ranan Lachman told Fortune. "The really smart consumers only own something for the exact amount of time they need it."

Customers can choose which sets they will receive by compiling a list. Monthly subscription rates are $15 for small sets, $25 for medium sets and $39 for large sets.

The Pley warehouse can turn around a set for its next renter within 2.5 minutes, according to Fortune. Sets are sanitized between each rental and weighed to determine if any pieces are missing.

Before taking on any outside funding, Pley had shipped 75,000 Lego sets around the country to more than 15,000 families.

Lego had 2013 revenue of $4.5 billion.

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