Grover tops up debt facility to €250M to scale its renting model for consumer electronics

Grover, the Berlin-based startup that offers “pay-as-you-go” subscriptions to the latest consumer tech, including e-scooters, has closed a new “asset-backed” financing deal, topping up an existing debt facility with Varengold Bank to a total of €250 million.

The additional capital will fuel the next phase of growth as the German company has entered scale-up territory. Specifically, it is an increase of an existing €55 million debt facility with Varengold, via an unnamed supporting debt investor, and will be used to expand Grover’s product range and for the purchasing of assets. Buying the latest gadgets to then rent them out is pretty capital intensive, after all.

Operating in Germany and Austria, with other markets to be launched in 2020, Grover pitches itself as part of the so-called “circular economy” whereby people rent things rather than outright own them. The idea is that it offers a more sustainable form of consumption, since items can have several owners during their lifespan, and can be more cost effective, depending on your penchant for the latest consumer electronics.

As well as targeting consumers direct, offering subscriptions via its own website, Grover also partners with major electronics retailers. This sees it essentially become a form of point-of-sale finance by letting consumers rent the item they were considering buying, with the option to purchase it outright later.

The company says it is currently present in the online-channels of eight leading European electronics retailers and in more than 500 brick-and-mortar stores across Germany. It is hoping to build on this go-to-market strategy in 202.

In addition, Grover plans to expand its B2B offering to meet continued demand from business customers. It also says it will continue to develop its e-mobility category, with the aim of making future micro-mobility vehicles accessible to consumers on a flexible monthly basis.

3G wifi Sahaha bộ phát wifi 3g/4g sim 3g/4g thuê wifi du lịch máy phiên dịch
3G wifi Sahaha
https://3gwifi.net/
368 đường láng, Đống Đa, hà nội
19002106
giaiphap3g@gmail.com
https://3gwifi.net/danh-muc/bo-phat-wifi-4g/
https://3gwifi.net/danh-muc/usb-4g-dcom-4g/
https://3gwifi.net/danh-muc/sim-3g/
https://3gwifi.net/danh-muc/wifi-du-lich/
https://3gwifi.net/danh-muc/may-phien-dich/
https://goo.gl/maps/W9Wk6vrue6aW8yuP7
Sahaha cung cấp usb 4G✅ Dcom 4G✅ Sim 4G✅Bộ phát wifi 4G chính hãng✅ Uy tín Giá rẻ nhất✅ 19002106