Varengold Bank AG holds stake in Grover Group GmbH


Varengold Bank AG / Key word(s): Investment/Miscellaneous
Varengold Bank AG holds stake in Grover Group GmbH

07-Apr-2022 / 12:46 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Hamburg, 7 April 2022 - The Berlin-based start-up Grover has raised around EUR 100 million in equity capital as part of the now announced successful implementation of the Series C funding. Grover thus exceeds the threshold of one billion USD for the first time in its company valuation. Varengold Bank had previously held a 2.35% stake in Grover at a book value of EUR 1.5 million. This shareholding is now reduced to 2.08% through the capital increase.

Dr. Bernhard Fuhrmann
Management Board

Frank Otten
Management Board

This release contains forward-looking statements that involve certain risks and uncertainties. Future results may differ materially from those currently anticipated due to various risk factors and uncertainties, such as changes in business, economic and competitive conditions, currency exchange rate fluctuations, litigation uncertainties or investigations, and availability of financial resources. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this release.

Ms. Sanja Schultz-Szabo (Head of Corporate Development)

07-Apr-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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