What is Grover?
Founded in 2015, Grover operates an innovative online platform that facilitates the rental of consumer electronics, including smartphones, laptops, and smart home appliances, through a flexible monthly subscription model. By decoupling product ownership from product usage, Grover addresses the growing consumer demand for sustainability and financial agility. The company's market position is defined by its circular economy approach, which extends the lifecycle of hardware and reduces electronic waste. With a comprehensive service suite that allows users to switch, return, or purchase devices, Grover has successfully integrated itself into the modern digital lifestyle, serving as a critical intermediary between hardware manufacturers and tech-conscious consumers.
How much funding has Grover raised?
Grover has raised a total of $2.3B across 9 funding rounds:
Series A
$43.3M
Private Equity
$12.2M
Debt
$33.2M
Debt
$278.8M
Multiple Rounds
$1.3B
Series C
$330M
Debt
$270M
Series A (2018): $43.3M with participation from Varengold Bank, Coparion, Samsung NEXT, and Circularity Capital LLP
Private Equity (2019): $12.2M led by Samsung Next, Augmentum Fintech, Main Incubator, and Circularity Capital
Debt (2019): $33.2M supported by Varengold Bank
Debt (2020): $278.8M featuring Varengold Bank
Series B (2021): $71M backed by Viola Fintech, JMS Capital-Everglen, Samsung NEXT, Circularity Capital, Assurant Growth, Seedcamp, Augmentum Fintech Management, and Kreos Capital Group
Debt (2021): $1B with participation from Fasanara Capital
Debt (2021): $250M led by Fasanara Capital
Series C (2022): $330M supported by Assurant, Viola Fintech, Mirae Asset Global Investments, Fasanara Capital, Korelya Capital, and Energy Impact Partners
Debt (2022): $270M featuring M&G
Key Investors in Grover
Fasanara Capital
Fasanara Capital is a leading institutional asset manager and a pioneer in fintech investing, focusing on providing innovative financial solutions and investment strategies.
Samsung NEXT
Samsung NEXT provides software and services to complement Samsung's global hardware footprint, combining product development, investment, and M&A under one roof.
Circularity Capital
Circularity Capital is a specialist private equity firm focused on providing investment opportunities within the circular economy to support business growth and resource productivity.
What's next for Grover?
Looking ahead, Grover is well-positioned to leverage its recent capital injection to deepen its market penetration and enhance its technological infrastructure. The strategic focus will likely center on optimizing its asset-management capabilities and expanding its product catalog to include emerging categories such as virtual reality and advanced wearables. As the company matures, the emphasis will shift toward achieving long-term profitability through operational efficiency and the continued scaling of its subscription ecosystem. By maintaining strong partnerships with institutional investors and financial institutions, Grover is poised to solidify its leadership in the tech-as-a-service sector, potentially setting the standard for circular business models on a global scale.
See full Grover company page
