Raue LLP has advised the Berlin-based start-up Grover, which offers pay-as-you-go subscriptions as an alternative to technology product ownership, on a Series A equity financing round.
The round was led by circular economy specialist Circularity Capital LLP and supported by fintech investor coparion and Samsung NEXT as well as all the existing investors. The new capital shall be used to expand Grover’s market position in Germany and fuel its international expansion. The capital shall also fund new products such as “Grover Mix,” a flat rate model which offers maximum flexibility for customers, and “Startups get Grover” the newly created B2B offering. Grover is redefining the way consumers relate to products by promoting an alternative to buying and owning, which maximises usage and minimises waste.
(30 July 2018)