GroverGrover, the subscription service for tech products, is now valued at over $1 billion after its latest funding round. The German company, which provides electronics like smartphones on subscription plans, has raised $330 million in a mix of equity and debt funding from several backers. The debt side of the funding round, $220 million, is led by Fasanara Capital, which previously invested in the company through a debt facility. According to the company, this model helps cutting back on e-waste with people only using products when they need them. In the last year, the company has expanded its remit to financial services with Grover Card, a prepaid debit card for its users with subscriptions.

Source: Forbes April 07, 2022 18:06 UTC