Grover's latest financing round increases to 100 million US dollars

The electronics landlord has once again expanded its Series B. In total, the Berlin-based start-up has already raised one billion euros.
News by Tom Schmidtgen Tom Schmidtgen · Stuttgart, 28. July 2021

The electronics rental company has expanded its Series B once again. The Berlin-based start-up has already raised a total of one billion euros.

The current Series B financing round of the sharing start-up Grover has increased from 71 to 100 million US dollars. Grover's investors include the London-based investment companies JMS Capital-Everglen, Augmentum, Seedcamp, Viola Fintech from Israel, the Scottish private equity company Circularity Capital, the Cologne-based VC Coparion and Samsung Next, a subsidiary of Samsung. In total, Grover has raised more than one billion US dollars in debt and equity capital - in addition to the previous financing rounds, also from an asset-backed financing of 850 million euros from London-based Fasanara Capital.

According to the company, this is the largest financing of a start-up in the circular economy to date. Grover rents out technology products on a monthly basis, both for private and corporate customers. The company aims to increase the number of devices rented out to five million by 2024. "We want to offer more people access to technology and at the same time reverse the alarming trend towards more electronic waste," says Grover founder and CEO Michael Cassau. "Because this has serious consequences for the environment. To date, we have already recycled more than 475,000 devices, which corresponds to a saving of more than 1,400 tons of e-waste." Grover is already the market leader in Europe, and now the Berlin-based company wants to become the leading global provider. Grover is active in Germany, Austria, the Netherlands and Spain and plans to expand into other countries at the end of the year.


Like it? Please spread the word:


Newsletter

Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.

LinkedIn Connect

FYI: English edition available

Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?

Go to English edition

FYI: Deutsche Edition verfügbar

Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?

Deutsche Edition öffnen

Similar posts