Osborne Clarke advised the Berlin-based Grover Group on its EUR 45 million Series B financing round. Involved are the London investor Jonathan Schneider, who has already invested in the German medical startup Ada Health through his investment company JMS Capital-Everglen, the US insurance company Assurant and the Israeli fund Viola Fintech. In addition, several existing shareholders such as Coparion and Samsung Next as well as other founders and Angels invested. Kreos Capital has made available EUR 15 million over and above the financing round. The Berlin start-up wants to use the fresh capital to expand its operational business.

Private and business customers can use the Grover platform to rent electronic devices such as smartphones, cameras and game consoles. According to Grover, the products are new or as good as new. According to the company, sales last year amounted to EUR 37 million, also due to the pandemic situation. The result before taxes, depreciation and interest (Ebitda) was positive for the first time. The company which was founded by Michael Cassau in 2015, employs 160 people.

The Osborne Clarke team that advised Grover, led by Nicolas Gabrysch (Corporate / VC), consisted of Maximilian Vocke, Dana Alpar (both Corporate / VC), Felix Hilgert (IP, IT), Dr. Jens Wrede (Tax), Dr. Robert Rentsch (Employment) and Marco Aatz (Merger clearance).

General Counsel Lucian Becher supported the transaction in-house.

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