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Debt Financing of PaaS Assets


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Structuring nearly 2bn of asset funding

Grover is a role model for debt-based asset funding. With nearly € 2bn of debt from various lenders in multiple rounds Grover has shown a way of separating startup and asset risk.

In this episode, Mitja Sadar, former Senior Vice President Finance and Head of Debt Capital Markets at Grover, gives insights into Grover’s approach. Mitja explains the various stages, pitfalls and the interrelation between the product portfolio and debt structures.

This episode is the eighth in the series PaaS Decoded, 16 conversations about the fine details of product-as-a-service.

People

Mitja Sadar, Co-Founder & CFO SKROL, formerly Senior Vice President Finance, & Head of Debt Capital Markets at Grover

Patrick Hypscher, Co-Founder of Green PO, Expert in Sustainable Business Models

Chapters

00:00 Intro
01:52 Grover developing from small to big debt facility
03:04 Separating startup and asset risk
06:03 The stages of asset financing
08:47 Internal structures needed to secure debt financing
10:52 Finding the right lender
14:42 Good relations with lenders are key
17:04 Contractual terms will last
19:04 Return on money & return of money
23:58 Influence of the product portfolio on the debt structure
31:18 Find your circular contribution and the value add
34:17 Trends towards use, sustainability & flexibility
35:41 Startups, SMEs & Investors welcome

About Grover (from website):

Grover is the global leader in technology rentals, enabling people and empowering businesses to subscribe to tech products monthly instead of buying them.

About SKROL Capital (from website):

SKROL is on a mission to modernize the backbone of the global economy by acquiring and transforming small and medium sized businesses globally.

Further Links:

https://www.grover.com

https://press.grover.com/136970-grover-rings-in-the-new-year-with-250m-funding-deal

https://tech.eu/2022/09/28/grover-takes-on-more-debt-funding-this-time-to-the-tune-of-eur270-million/

https://skrol.com/

Transcript:

See the episode page for the transcript: https://circularity.fm/debt-financing-of-paas-assets/

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Circularity.fmBy Patrick Hypscher

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