Why We Invested · Samsung Next
Product
Grover uses proprietary technology to assess consumer creditworthiness for consumer electronics access.
Grover offers a new way for consumers to gain access to consumer electronics devices. It utilizes proprietary tech to assess consumer creditworthiness, and reaches consumers through two main channels:
Traction
Grover achieved a monthly revenue growth rate of 20 percent.
We see proof of all this in Grover’s revenue growth rate of 20 percent per month.
Team
Grover is led by an execution-focused founding team with backgrounds in marketplaces, consumer marketing, and finance.
There are many reasons we invested, but first and foremost, the company is led by an execution-focused founding team with a solid background in marketplaces, consumer marketing, and finance.
Business model
Grover runs a direct-to-consumer business where customers subscribe to tech products for various monthly periods.
It has a robust direct-to-consumer business on getgrover.com, where customers can subscribe to the latest tech products for periods of one month, three months, six months, or longer.
Grover partners with OEMs and retailers to offer rentals at checkout, reducing friction, fraud, and returns.
Grover also partners with OEMs and retailers to offer rentals at checkout. That reduces the amount of friction, fraud, and returns, while also enabling partners to reach new customer groups.
What founders can learn
- The traction evidence that carried weight: Samsung Next wrote that Grover achieved a monthly revenue growth rate of 20 percent.
- How the team was judged: Samsung Next wrote that Grover is led by an execution-focused founding team with backgrounds in marketplaces, consumer marketing, and finance.
- How the model was assessed: Samsung Next wrote that Grover runs a direct-to-consumer business where customers subscribe to tech products for various monthly periods.
Source and provenance
Why We Invested published by Samsung Next on samsungnext.com (first-party source). Read the original
