Grover, a Berlin, Germany-based company which specializes in technology rentals, raised additional €50M in funding.
Backers included Cool Japan Fund (CJF), a public-private fund from Japan and existing investors, such as Energy Impact Partners, Korelya, Augmentum und Circularity Capital.
The company intends to use the funds to increase its profitability and ensure further sustainable growth.
Founded in 2015, and led by CEO Linda Rubin, Grover specializes in technology rentals, enabling people and empowering businesses to subscribe to tech products monthly instead of buying them. With Grover and Grover Business, subscribers and companies get access to a wide range of over 8,000 tech products, including smartphones, laptops, virtual reality (VR) gear, wearables, and smart home appliances on a flexible, monthly rental basis. Once a product rental period has ended, its service allows its users to return the product free of charge. They can also decide to extend the product rental length or exchange the product for something else. Grover Business even takes care of the tech procurement and management process so that companies can stay focused on growth. Rentals are available in Germany, Austria, the Netherlands and Spain, as well as in Germany through its online and offline partner network, including Europe’s electronics retail group, MediaMarktSaturn.
FinSMEs
22/07/2024