This Gadget-Rental Firm's Latest Fundraising Earns It Unicorn Status

Grover Deutschland GmbH raised $330 million at a valuation of over $1 billion, the Wall Street Journal reports.
In a Series C round led by Energy Impact Partners, Grover raised $110 million in equity and $220 million in debt.
The New York-based sustainability-focused investment firm provided $28 million in equity.
Grover looks to utilize the proceeds to hire over 100 people in the U.S., mostly software engineers and product professionals, and advertise its service.
The fundraising positioned the company renting out smartphones and other devices to expand in the U.S., its fastest-growing market.
Grover runs an e-commerce platform to rent more than 3,000 products, including Apple Inc (NASDAQ: AAPL) iPhones and Apple Watches and Microsoft Corp (NASDAQ: MSFT) Xbox videogame consoles.
Grover offers only products that are durable and can be repaired, avoiding low-cost devices.
Grover's business-to-business rental service accounts for 15% of Grover's subscriptions. Grover looks to increase that figure to 40%.