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-based start-up Grover apparently wants to take the plunge and go public. The finance portal Finance Forward reports this and speculates that both a classic IPO and a Spac could be an option 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, the two merge: the company goes public and receives the investors' money in return. The investors in turn receive shares in the company if they do not exit the deal prematurely. The German air taxi company Lilium, for example, recently went public in this way.

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

An IPO - in whatever form - would raise money for the company, which it could then invest in growth through new devices. It was only in July that the start-up expanded its Series B financing round once again, raising 100 million euros in invested capital. In total, a nine-figure sum is likely to have flowed into the start-up.