London Stock Exchange Group and other major backers join Series B round to support international growth and technology development.
"The COVID-19 pandemic demonstrated the effectiveness of the public markets, with companies recapitalising quickly and efficiently. Our technology has allowed thousands of retail investors to participate on equal terms with institutional investors, unlocking a large and important source of liquidity and long-term share ownership for corporate issuers. The response from Boards and their advisers to our solution has been excellent: they recognise our digital solution for retail inclusion brings together both good governance and best execution."
Shell Ventures joins the Series B round, lifting total funding announced this year to £22.8m.
"Since founding in 2016, Drover has evolved and grown into a serious contender in the UK car retail market, and is quickly scaling in France. Our car-as-a-service proposition, with no large downpayment and one flat monthly fee including all the car's bills, has proven remarkably resilient in 2020, with record revenues in Q2 and Q3. Partnering with Shell will only strengthen our position as the leading flexible ownership model, in the UK and beyond"
The funding round was led by Tarsadia Investments with participation from automotive leaders including Hyundai Mobis, General Motors Ventures, SAIC Capital, and Van Tuyl Companies.
"Enhanced in-car experience is the next automotive revolution that goes hand in hand with electrification and the development of autonomous vehicles. Our technology is class leading and is extremely well placed to meet current and future requirements."
The funding round was led by IDC Ventures and Simon Eyers to support international expansion and product development.
"COVID-19 has made supply chain transparency and visibility absolutely crucial, not only in retail categories such as apparel, pharma and consumer goods, but in healthcare, government and other sectors as well,"
Dawn Capital led the funding round, with participation from major banking institutions including Deutsche Bank, J.P. Morgan, Citi, and Goldman Sachs.
"We have been proud supporters of AccessFintech since their origins in our In Residence programme and are pleased to support the next stage of their growth."
— Richard Gordon, Global Head of Securities Services Operations
