Drover announced additional funds of £2.25 million from Shell 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.