Grover receives 250 million US dollars

Grover only launched its rental platform for technical devices in the USA in September. Now the company has secured major funding for this market.

Grover has received 250 million US dollars for its US business. The money comes from the London-based venture capital firm Fasanara Capital. "We are delighted about the funding for the US market, which will enable us to make the circular economy accessible to more people," says Thomas Antonioli from Grover. The start-up only expanded into the USA in September of this year, and demand in this market has been rising sharply ever since.

The start-up has also recently started cooperating 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 devices from Grover.

Grover was founded in 2015 by Michael Cassau and is based in Berlin. The start-up's platform allows users to rent technical devices such as cell phones and laptops on a flexible basis. Grover also works with Mediamarkt and Saturn and is now also represented in Austria, Spain, the USA and the Netherlands.