Grover is an online platform that is based in Berlin. This is known to rent technical for monthly subscriptions. Recently It announced to raise $330 million in new debt as well as equity funding.
The financing involves $110 million in a Series C equity round. This round is led by Energy impact partners. Not only this but financing by Fasanara Capital has also been done of $220 million in debt.
Numerous new and existing investors united in this round. This pushed the organization into unicorn territory.
Grover pitches to clients by claiming that it provides affordable and sustainable methods to utilize technology. It also says that most of the products provided by it are available for monthly subscriptions.
It has received financing because of developing environmental issues around the dangers led by mounting electronic waste. Multiple customers, as well as investors, desire more sustainable methods to augment the demand for the latest gadgets.
Now, the planning Grover includes utilization of the latest findings to increase its expansion in new countries and existing countries namely Austria, Spain, the USA, Germany, and the Netherlands. Grover emphasizes more on expansion in the US. Along with this, Grover plans to establish offices in Miami and recruit more than 100 people.
In past years, Grover has conducted multiple rounds of different companies providing reselling electronics. This includes Back Market company located in Paris, Swappie in Finland as well as Refurbed situated in Vienna.
