Drover announced additional funds of £2.25 million from Shell Ventures.

United Kingdom Investments 14 October 2020
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Drover, a London, UK-based car subscriptions provider, announced that it secured £2.25 million ($2.9M) in additional investment from Shell Ventures.

The  announcement was made a few months after a £20.5 million funding round backed by Target Global, RTP Global and Autotech Ventures.

Funding will help accelerate Drover’s electric vehicle proposition, as well as investing in the talent and technology for expansion. New End Associates, a London-based boutique advisory firm, has acted as financial adviser on the transaction.

Drover, founded in 2015 by CEO Felix Leuschner and Matt Varughese, developed an end-to-end digital platform for purchasing, financing and insuring cars - providing customers with a car with everything included, for a duration of one month to two years for one flat monthly payment. The car is delivered within 72 hours, and s returned at the end of their term.