Berlin based electronics rental marketplace Grover has raised $11.7m in debt financing from Varengold Bank.
According to the company, its subscription numbers have grown eight-fold over the last year. The new funding will be used to further grow the business and expand the number of products available for renting, said Michael Cassau, CEO. “The overall goal is to continue to meet the demand we’re seeing by investing in products and expanding the number and depth of partner relationships. We have a portfolio of more than 1,000 products adding new products all the time when the latest tech comes out,” he said.