Grover
Growth · Germany · 2022
Company
As the European market leader in tech rentals, Grover offers private and commercial customers an attractive alternative to buying electronics outright.
Founded in Berlin in 2015, the company enables individuals and businesses to use tech products—from smartphones and laptops to gaming and VR devices—through flexible monthly subscriptions. Grover sells through its own platform in Germany, Austria, the Netherlands, and Spain, as well as through a broad network of partners, including MediaMarktSaturn, Europe’s leading electronics retail group. With this positioning, Grover is a pioneer of the circular economy in the technology sector and the European market leader in its field.
Management: Rob Straathof, Justin Cockerill, Thomas Menzel
Reason for the Investment
In 2022, COI Partners participated in Grover's Series C funding round.
The structural shift in consumer behavior toward flexible, sustainable use of technology rather than purchasing is creating a long-term megatrend from which Grover, as the market leader, benefits the most. The company recognized these trends early on and built a platform with genuine network effects and a B2B2C distribution model that ensures a competitive edge.
Key Figures
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Year Founded
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Year of Participation
>0k
SKUs
Growth
Transaction Type
Contact Person at COI
Deal Captain Jan Claußen has been advising Grover since COI Partners’ Series C investment:
“Renting has become an increasingly attractive option for consumers in many areas of life, offering flexibility and favorable terms. The growing societal focus on sustainability and the preference for returning devices rather than disposing of them further underscores the appeal of the rental model, particularly in the technology sector. The Grover team recognized these trends early on and did truly pioneering work by building a European market leader with a unique business model. We are very pleased to be an investor and to support Grover in achieving its ambitious goals.”
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