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Greenberg Traurig advises Eiffel Investment Group on a EUR 20 million debt fund for IT startup Grover

Berlin, January 17, 2019 – Greenberg Traurig advised asset management firm Eiffel Investment Group (EIG) on an asset-backed debt financing for IT startup Grover Group GmbH (Grover). The funds managed by EIG provide financing in the amount of EUR 20 million.

EIG is a French asset manager specializing in the financing of European small and medium-sized enterprises. Grover intends to use the capital to finance the growing demand for its rental model for technology products such as smart home devices. Grover's customer base includes, for example, N26 and Deutsche Bahn as well as distribution partnerships with electronics retailers such as MediaMarkt, Saturn, Gravis, Conrad and Tchibo.

Greenberg Traurig advised EIG comprehensively on all legal aspects of the transaction and its structuring.

Background: This transaction was the first instruction of Greenberg Traurig by EIG.

About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on the 2018 Am Law Global 100. Web: Twitter: @GT_Law.