Grover receives 250 million US dollars

It was only in September that Grover launched its tech device lending platform in the US. Now the company has secured major funding for that market.

Grover has received $250 million for its US business. The money comes from London-based venture capital firm Fasanara Capital. "We are excited about the funding for the U.S. market, which will allow us to make circular economy accessible to more people," says Grover's Thomas Antonioli. The startup only expanded into the U.S. in September of this year, and since then demand in that market has been rising steeply.

Recently, the start-up has also partnered with Visa and Solarisbank. Together, they offer a Payback card. When customers go shopping with the Grover Card, they get three percent of their spending back. They can use the money to borrow technical equipment from Grover.

Grover was founded in 2015 by Michael Cassau and is based in Berlin. Through the start-up's platform, users can flexibly rent technical devices such as mobile phones and laptops. Grover also works with Mediamarkt and Saturn and is now also represented in Austria, Spain, the USA and the Netherlands.