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Grover raises €37M Series A to offer latest tech products as a subscription

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Grover, the Berlin-based startup that offers “pay-as-you-go” subscriptions to the latest consumer tech as an alternative to owning products outright, has raised €37 million in funding.

The Series A round is led by Circularity Capital LLP — a VC that specialises in the so-called “circular economy” — with participation from fintech investor Coparion, Samsung NEXT, and Varengold Bank. Existing investors, including Commerzbank’s Main Incubator, also followed on.

Noteworthy, the funding consists of €12 million in equity and a new €25 million debt facility. Building an inventory of new tech products to rent is quite capital insensitive, after all.

https://techcrunch.com/2018/07/30/grover-raises-series-a/