Grover Revenue, Valuation, Funding & Investors
Grover is valued at $1B as of April 2022, a 4.2x multiple on its last reported $236M revenue.
Last Grover valuation
$1B
Series C · Apr 2022
Last Grover funding round
Undisclosed stage
Amount undisclosed · Mar 2025
Grover revenue
$236M
Series C · Apr 2022
Key investors in Grover
coparion
Augmentum Fintech
Circularity Capital
Samsung NEXT
Seedcamp
Viola FinTech
About Grover
Grover is a Berlin-based platform for subscription-based rentals of consumer electronics including smartphones from Apple and Samsung, laptops from Dell and MacBook, headphones, cameras, and smart home devices. The service delivers over 3,000 product models across Germany, Austria, the Netherlands, Spain, and the United States with free shipping and insurance. Grover refurbishes returned items through certified processes to extend product lifecycles. Launched in 2015, it partners with retailers like MediaMarkt.
Founded
2015
HQ
BerlinWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$236M (Apr 2022)
Valuation
$1B (Apr 2022)
Grover Valuation
Grover is currently valued at $1B, based on its Series C in April 2022.
The $110M round was led by Energy Impact Partners, with participation from Korelya Capital, Wealthing VC Club, coparion, Assurant, COI Partners and 4 other investors.
Grover's valuation has grown 18x from $57M at its Series A in October 2019 to $1B in April 2022, across 2 priced rounds.
Grover valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Apr 2022 | Series C | $1B | 4.2x |
| Oct 2019 | Series A | $57M | - |
Grover Revenue
Grover's latest recorded revenue is $236M, as of its Series C in April 2022. At a $1B valuation, that implies a 4.2x revenue multiple.
Grover revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Apr 2022 | $236M | $1B | 4.2x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Grover Funding History
Grover has raised a total of $284M across 9 funding rounds.
Grover's first fundraising round was a $1M seed round in November 2015. The most recent completed round was a undisclosed-stage round in March 2025.
Grover funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2025 | Undisclosed stage | Augmentum Fintech | - | - | Augmentum Fintech invested a further EUR 3.5 million into Grover in March 2025 as part of the recapitalisation that followed the company's strategic review and restructuring. Augmentum co-founder Richard Matthews joined the Grover board as chairman to steer the business towards profitability, and the trust wrote down the holding by GBP 26.3 million in the same financial year. The investment followed a EUR 1.8 million convertible loan note Augmentum had subscribed earlier in the year as part of a bridging round. |
| Jul 2024 | Undisclosed stage | Korelya Capital; Circularity Capital; Energy Impact Partners; Cool Japan Fund; Augmentum Fintech | $54M | - | Grover is a Berlin-based consumer tech subscription platform offering circular electronics rentals, enabling access to devices like smartphones, AirPods, and scooters without ownership to promote sustainability. The July 2024 Series C round raised approximately $54.3M, matching the specified investors including Augmentum Fintech, Circularity Capital, Energy Impact Partners, and Korelya Capital. An additional €50M funding was secured around 22 July 2024 for the technology rentals specialist. Earlier rounds include a 2022 Series C with $110M equity (led by Energy Impact Partners, joined by Korelya Capital and others) and $220M debt, achieving unicorn status at over $1B valuation, aimed at international expansion to markets like the US, Spain, and Netherlands. In prior funding contexts, Grover demonstrated strong traction: as of 2021, it had ~150,000 subscriptions aiming for 450,000 by year-end, with net revenues of $43M and $71M ARR in the most recent fiscal year, achieving EBITDA profitability; business grew 2.5x that year. By 2022, ARR more than doubled from 2020 levels amid US launch and Grover Card introduction, with over 450 employees. Total funding raised exceeds $2.5B across rounds, latest noted as a $36.8M secondary transaction. Grover positions in the burgeoning $100B+ circular economy market for consumer tech, competing by simplifying access and bridging tech gaps globally through subscription models. Funds from various rounds support product expansion (e.g., health devices, smart appliances) and hiring, such as over 100 US roles post-2022. |
| Apr 2022 | Series C | Energy Impact Partners (lead); Korelya Capital; Wealthing VC Club; coparion; Assurant; COI Partners; German Media Pool; SevenVentures; Viola FinTech; Mirae Asset Capital | $110M | $1B | Grover is a Berlin-based consumer tech subscription platform offering circular electronics subscriptions, allowing users to access the latest devices via flexible monthly plans while promoting sustainability through reuse and recycling. The company operates in markets including Germany, Austria, Spain, the Netherlands, and the USA, with a Miami base established in 2021. On April 7, 2022, Grover raised $110 million in equity in a Series C round led by Energy Impact Partners, joined by Assurant, coparion (Co-Investor Partners), Korelya Capital, Mirae Asset-LG Electronics New Growth Fund, Viola Fintech, Wealthing VC Club, German Media Pool, and SevenVentures, alongside $220 million in debt from Fasanara Capital, for total funding of $330 million. This valued Grover at over $1 billion USD, achieving unicorn status. Funds were allocated to accelerate international expansion, particularly in the US, including hiring over 100 staff. In 2022, Grover generated $235.98 million in revenue, reflecting strong growth in its subscription model amid rising demand for sustainable consumer electronics access. The round positioned Grover to scale its mission of democratizing tech access and advancing the circular economy. Energy Impact Partners highlighted Grover's role in pioneering electronics subscriptions to support net-zero goals, aligning with broader climate investment trends. Subsequent rounds included a $54.65 million bridge in July 2024 with some repeat investors and a $258.66 million line of credit in September 2022. |
| Jul 2021 | Series B | JMS Capital-Everglen (lead); Samsung NEXT; coparion; Chromo Invest; David Rosskamp; Circularity Capital; Seedcamp; Viola FinTech; Augmentum Fintech | $29M | - | Grover is a Berlin-based consumer marketplace offering flexible monthly subscriptions for technology products like electronics, health devices, and smart appliances, providing an alternative to outright purchases with sustainability benefits through product recirculation. Founded in 2015 by Michael Cassau, it operates in markets including Germany, Austria, Netherlands, Spain, and plans U.S. expansion. The Series B round, announced around April 2021 and extended by July 28, 2021, raised €60 million ($71 million) initially, comprising €45 million equity led by JMS Capital-Everglen with new investors Viola Fintech, Assurant Ventures, and angels, plus follow-on from coparion, Augmentum Fintech, Circularity Capital, Seedcamp, Samsung Next, and €15 million venture debt from Kreos Capital. The extension brought equity to $100 million total, alongside a $1 billion asset-backed debt facility for product financing. Funds supported international expansion into Spain and U.S., product category growth, customer experience improvements, and scaling subscriptions from around 150,000 as of early 2021 (nearly doubled from 100,000 in September 2020) toward a 450,000 target by year-end, with ambitions to circulate 5 million products by 2024. By mid-2021, Grover provided access to nearly 250,000 tech products amid surging demand. This round followed prior funding including a $44.7 million round in 2019 and $43.3 million Series A in 2018, with investors like Samsung Next, Commerzbank’s incubator, Varengold Bank, Augmentum, Circularity Capital, coparion, Seedcamp. A later Series C in 2022 valued Grover over $1 billion with $110 million equity from Energy Impact Partners, others, and $220 million debt. |
| Apr 2021 | Series B | JMS Capital-Everglen (lead); Samsung NEXT; coparion; Circularity Capital; Seedcamp; Viola FinTech; Augmentum Fintech | $54M | - | Grover is a Berlin-based market leader in consumer tech subscriptions, enabling individuals and businesses to rent technology products monthly instead of purchasing them, promoting flexibility, affordability, and sustainability through product recirculation across multiple rental cycles. Founded in 2015 by CEO Michael Cassau, the company achieved strong 2.5x growth in 2020 amid the pandemic as consumers shifted to its flexible rental service, recording €37 million in net revenue for the fiscal year and saving over 4,000 metric tons of CO2 via device recirculation. On April 13, 2021, Grover raised €60 million in an oversubscribed Series B round, comprising €45 million in equity led by JMS Capital-Everglen (Jonathan Schneider) with new investors Viola Fintech, Assurant Ventures, and angels from Europe and North America, plus follow-on from existing backers including coparion, Augmentum Fintech, Circularity Capital, Samsung Next, and Seedcamp. An additional €15 million came as venture debt from Kreos Capital. The funding aims to boost market penetration, product innovation, and international expansion into markets like Spain and the U.S., supporting goals to triple subscriptions from around 150,000 to 450,000 by end-2021 and advance circular economy practices in the €1 trillion global consumer electronics market. Grover was advised by Osborne Clarke and Jefferies on the round. |
| Oct 2019 | Series A | Augmentum Fintech (lead); Samsung NEXT; coparion; Neosfer; Circularity Capital | $12M | $57M | Grover is a Berlin-based fintech platform offering flexible subscription rentals for consumer electronics, wearables, and tech products, allowing users to keep, switch, buy, or return items. The service targets Europe and later expanded to the US, serving over one million registered users. In September/October 2019, Augmentum Fintech led Grover's €11 million funding round, investing €6 million via a convertible loan note, coinciding with a €30 million debt facility from Varengold Bank. The investors matched the query including Circularity Capital, coparion, Neosfer, and Samsung NEXT, though not all explicitly listed in sources for this round. This preceded Grover's €60 million Series B in March 2021, where Augmentum converted its note, and a Series C in April 2022 raising $330 million in equity and debt at over $1 billion valuation. |
| Jul 2018 | Series A | Circularity Capital (lead); Samsung NEXT; coparion; Chromo Invest; David Rosskamp; Target Global; Varengold Bank; Commerzbank | $14M | - | Grover is a Berlin-based startup offering pay-as-you-go subscriptions to the latest consumer tech products as an alternative to outright ownership. In July 2018, Grover raised a €37 million Series A round, consisting of €12 million in equity led by Circularity Capital with participation from Coparion, Samsung NEXT, Varengold Bank, Commerzbank’s Main Incubator, Chromo Invest, Target Global, and David Rosskamp, plus a €25 million debt facility. The equity was also described as €12 million in some reports and funded international expansion, new product offerings like Grover Mix, and B2B services. The company achieved tenfold sales growth in 2017 and 20% monthly revenue growth at the time. |
| May 2017 | Seed | K-Invest; Global Founders Capital | $9M | - | - |
| Nov 2015 | Seed | David Rosskamp (lead); Neosfer; Global Founders Capital; Seedcamp; Hannover Innovation Fund; Enjoyventure Management | $1M | - | - |
Who has invested in Grover?
26 investors have backed Grover across its funding rounds, including coparion, Augmentum Fintech, Circularity Capital, Samsung NEXT, Seedcamp and Viola FinTech.
Lead investors include Energy Impact Partners, JMS Capital-Everglen, Augmentum Fintech, Circularity Capital and David Rosskamp.
Grover Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Cologne | 5 | Participant | Jul 2018 | |
 Edinburgh | 5 | Lead | Jul 2018 | |
| London | 5 | Lead | Oct 2019 | |
 San Francisco, CA | 4 | Participant | Jul 2018 | |
| Germany | 3 | Lead | Nov 2015 | |
| London | 3 | Participant | Nov 2015 | |
 Herzliya | 3 | Participant | Apr 2021 | |
 Paris | 2 | Participant | Apr 2022 | |
 Porto Alegre | 2 | Participant | Jul 2018 | |
| Frankfurt | 2 | Participant | Nov 2015 | |
| Berlin | 2 | Participant | Nov 2015 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} JMS Capital-Everglen | London | 2 | Lead | Apr 2021 |
| New York City, NY | 2 | Lead | Apr 2022 | |
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Start Free TrialInvestments by Grover
Grover has invested in 1 company to date.
Latest investment by Grover was on June 26th 2023. Grover invested in Colonia in their $7M Seed round.
Latest Investments by Grover
| Description | Colonia is a digital platform enabling peer-to-peer sharing and rental of commercial vehicles across Europe. Users access trucks, trailers, tractors, tarpaulin trailers, box trailers, refrigerated trailers, and electric vehicles through its marketplace. Headquartered in Berlin, Germany, the company serves logistics firms and independent operators by facilitating short-term rentals and optimizing fleet utilization in the heavy goods transport sector. |
| HQ Country | |
| HQ City | Cologne |
| Deal Date | 26 Jun 2023 |
| Round | Seed |
| Raised | $7M |
| Investors | FlixBus; Octopus Ventures; Plug and Play; Atlantic; Hoyer; vent.io; MobilityFund |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Grover investments and their VC round multiples. Start Free Trial | |
Grover Competitors
Grover competitors include listed companies like Yalla Group and Truecaller, and private ones like APUS Group, Genies, Miaoshou Doctor and mobli.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Beijing | Private | $17M | - | $1B | 58.8x | |
| Los Angeles, CA | Private | - | - | $1B | - | |
| Beijing | Private | - | - | $1B | - | |
| Tel Aviv | Private | - | - | $1B | - | |
 UAE | Publicly listed | $342M | $128M | $827M | - | |
 Sweden | Publicly listed | $195M | $61M | $710M | 3.4x |
Grover Public Comps
Grover is still privately-owned, but its public comps include Upbound, Smartgroup Corp, Black Diamond Gr, Simpar, Willis Lease Finance, United International, Yalla Group, Grupo Vamos, Katapult and Zigup.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.7B | $1.7B | 0.6x | 0.6x | 1.5x | 5.2x | |||
| $233M | $96M | 4.0x | 3.7x | 9.6x | 8.9x | |||
| $327M | $86M | 3.5x | 3.0x | 13.5x | 11.5x | |||
| $8.5B | $2.4B | 1.2x | 1.2x | 4.4x | 4.2x | |||
| $730M | $406M | 4.8x | 4.7x | 8.7x | 7.4x | |||
| $645M | $246M | 2.0x | 2.0x | 5.3x | 4.2x | |||
| $342M | $128M | - | - | - | - | |||
| $1.1B | $727M | 2.7x | 2.4x | 4.1x | 4.0x | |||
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Common questions about Grover
| When was Grover founded? | Grover was founded in 2015. |
| Where is Grover headquartered? | Grover is headquartered in Berlin, Germany. |
| Is Grover publicly listed? | No, Grover is a private, VC-backed company. |
| What is Grover's valuation? | Grover was last valued at $1B in its Series C in April 2022. |
| How much funding has Grover raised? | Grover has raised $284M across 9 funding rounds. |
| What was Grover's last funding round? | Grover's last funding round was a undisclosed-stage round in March 2025. |
| Who are Grover's investors? | Grover's investors include coparion, Circularity Capital, Augmentum Fintech, Samsung NEXT, David Rosskamp, Seedcamp, Viola FinTech, Korelya Capital, Chromo Invest, Neosfer and 16 others. |
| What is Grover's revenue? | Grover's latest recorded revenue is $236M (April 2022). |
| What is Grover's revenue multiple? | Grover's latest valuation implies a 4.2x revenue multiple ($1B valuation on $236M of revenue). |
| Which companies are comparable to Grover? | Companies comparable to Grover include APUS Group, Genies, Miaoshou Doctor, mobli, Yalla Group and Truecaller. |
| How many companies has Grover invested in? | Grover has invested in 1 company, including Colonia. |
| What was Grover's last investment? | In June 2023, Grover invested in Colonia's $7M seed round alongside FlixBus, Octopus Ventures, Plug and Play and 4 other investors. |
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