Grover apparently wants to go public

According to a media report, a classic IPO or a Spac could be on the cards for the start-up, which earns its money by renting out electronics.

The Berlin start-up Grover apparently wants to take the plunge onto the stock exchange floor. This is reported by the financial portal Finance Forward and speculates that both a classic IPO and a Spac are possible for the electronics rental company from Berlin.

In a Spac, a manager first collects money from investors, which is then placed in an empty shell. If this shell buys a company, both merge: The company jumps on the stock exchange and gets the investors' money in return. They, in turn, get shares in the company if they don't exit the deal early. Most recently, for example, the German air taxi company Lilium went public in this way.

Grover's business model is that of a normal electronics rental company. Customers pay a monthly rate and receive, for example, a laptop, which they return after a few months or years. But to finance this business, the startup, founded in 2015, first has to pre-finance the devices, which eats up a lot of money.

An IPO - by whatever means - would raise money for the company, which it could then in turn put into growth through new devices. As recently as July, the start-up had once again expanded its Series B financing round, bringing it to 100 million euros in invested capital . In total, a nine-digit amount is likely to have flowed into the start-up.


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