Three months ago, we reported on the Series B financing round for Drover, a London-based startup that bills itself as the European leader in car subscriptions, when it announced a £20.5 million investment from a host of backers.
The company today announced that it has added another one to the roster, extending its round with £2.25 million from Shell Ventures.
Drover basically offers an end-to-end digital platform for purchasing, financing and insuring cars, upending the traditionally fragmented and dealership-based process.
For one flat monthly payment, Drover customers can get a car with everything included, for a duration of one month to two years, without the need to take on debt. Drover says it can get cars to customer doors in as little as 72 hours, and takes the car back at the end of their term.
Drover said its fresh cash would be used principally to accelerate its electric vehicle proposition. The startup has brought on board a new COO – Chris Moysen, the former Operations Director at Hertz – and a CMO – Alex Rose, previously with BMW, Google UK, Carwow and WhoCanFixMyCar.com.