Osborne Clarke has advised Grover in its USD 330 million Series C financing round. Berlin-based start-up Grover has successfully closed its latest funding round, raising USD 330 million in debt and equity. The equity financing takes Grover past the billion-dollar valuation for the first time and expands its position as a global leader in consumer electronics rental commerce.
Grover's Series C financing round is led by climate tech fund Energy Impact Partner and consists of USD 110 million in equity and USD 220 million in debt from investor Fasanara Capital. In addition, Co-Investor Partners, Korelya Capital, Mirae Asset-LG Electronics New Growth Fund, among others, are also coming on board as new investors for Grover in the completed Series C financing round. Existing investors, including Viola Fintech, Assurant and coperion, are also increasing their stakes in Grover as part of the capital raising. In addition, media funds German Media Pool and SevenVentures are participating in the financing round.
With the freshly raised capital, the Berlin-based start-up plans to expand into further countries as well as to increase its subscriber numbers in existing markets such as Germany, Austria, Spain, the Netherlands and the USA. In addition, the company plans to expand its team in the US by 100 employees in the next step.
The Osborne Clarke team advising Grover under the lead of Maximilian Vocke and partner responsibility of Nicolas Gabrysch (both Corporate / VC / M&A) consisted of Dana Alpar and Susanne Kühlthau (both Corporate / VC / M&A), Dr. Jens Wrede (Tax), Dr. Robert Rentsch, Kamissa Kruse (both Employment)
Grover in-house: Lucian Becher (General Counsel), Maximilian Assinger (Senior Counsel).
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