Berlin-based Grover, a company that enables people to subscribe to tech products monthly instead of buying them, announced that it has raised $250M (approx €221.43M) in an asset-backed facility from London-based Fasanara Capital.
The announcement follows a $1B in equity and asset-backed debt and equity financing Grover secured in July, and the launch of The Grover Card in partnership with Visa and Solarisbank in early November. The card offers a three per cent return on everyday purchases, which is then turned into Grover Cash rewards, tracked and redeemed against tech subscriptions in the app.