Samsung Next and Assurant were among the investors in the $53.5m equity portion of a $71.4m round led by JMS Capital-Everglen.
Germany-based consumer technology subscription service Grover raised €60m ($71.4m) in debt and equity financing today in a series B round featuring consumer electronics manufacturer Samsung and insurance provider Assurant.
Private equity firm JMS Capital-Everglen led the $53.5m equity portion, which included Viola Fintech, Coparion, Augmentum Fintech, Circularity Capital, Seedcamp and undisclosed private investors.
Samsung participated through corporate venturing subsidiary Samsung Next, while Kreos Capital provided the debt portion of the round. Osborne Clarke and Jefferies advised Grover on the transaction.
Grover runs a subscription service where users in Germany, Austria and the Netherlands can rent goods from a range of 2,500 consumer electronics products such as laptops, smartphones or wearable devices. The cash will go to international growth, product development and market penetration.
The company had previously raised $12m in equity funding from Samsung Next, financial services firm Commerzbank’s Main Incubator, fellow financial services firm Varengold Bank, Augmentum, Circularity Capital…
