Why we invested in Grover

By Carlos Vázquez, Investment Manager at Ad4Ventures Spain (Mediaset Group).

Ad4Ventures is the venture capital arm of Mediaset Group (leading free to air television broadcaster in Spain and Italy), focused on television media for equity deals. Ad4ventures has become the largest media for equity player in Southern Europe.

What is it?

Grover offers a flexible subscription model that allows customers to rent state-of-the-art devices without having to commit to a purchase.

This model is attractive to consumers who want to access the latest technology without having to bear the full cost of a purchase.

Why?

• Rapid market growth: The technology rental market is growing rapidly, driven by the rising popularity of consumer devices and the growing consumer awareness of the benefits of renting.

• Management: Grover is led by an experienced team with a proven track record of success. The team has a clear vision for the company and is well-positioned to execute its growth strategy.

• Large market potential: While Grover is set in DACH region, which is the largest technology rental market in Europe, the Company is already well established in other European countries and has started USA expansion.

• TV fit: as a new solution to access technology the company needed to drive discovery, to communicate renting advantage over traditional purchase. Brand awareness improved conversion rates in DACH region, while improving cohorts through wallet expansion.